The Delhi High Court imposed a fine of Rs 2 lakh on Ashneer Grover, the former Managing Director and co-founder of BharatPe. This penalty was levied owing to Grover's violation of an assurance made to the court, wherein he was refrained from sharing inappropriate posts about the company on social media.
As per a report by Bar and Bench, the court's decision comes in response to defamatory remarks made by Grover. The co-founder has apologized in addition to the financial penalty imposed by the Delhi High Court.
The legal action taken against Grover comes from his contentious social media activity, during which he disclosed information about equity distribution and secondary elements linked to BharatPe's recent funding round. Tiger Global took the lead in this funding round, along with Dragoneer Investor group and additional investors, as per reports. However, the social media post was later deleted by him.
Earlier this month, Ashneer Grover, accompanied by his wife Madhuri Jain, underwent questioning from the Delhi Police's Economic Offences Wing (EOW) as part of an investigation into an alleged fraud case.
The police inquiry unveiled connections between a minimum of eight human resource consultancy firms and relatives of Madhuri Jain, who is not only Grover's wife but also the former head of controls at BharatPe. On November 17, the duo was detained at Delhi's Indira Gandhi International Airport, triggered by a look-out circular (LoC) issued by the EOW.
