BharatPe sacks several employees, to ''claw back'' Ashneer Grover’s restricted shares
Zee News
As part of its corporate governance review of the company after the financial irregularities were unearthed during Ashneer and his wife Madhuri Jain Grover`s time, the company found many vendors were involved in malpractices, such as incorrect or inflated invoices, who have been blocked for further business with the company.
New Delhi: Leading fintech platform BharatPe on Tuesday said it has initiated necessary action against the company`s former founder Ashneer Grover to "claw back his restricted shares as per the shareholders` agreement" and will take all steps to enforce its right under the law.
As part of its corporate governance review of the company after the financial irregularities were unearthed during Ashneer and his wife Madhuri Jain Grover`s time, the company found many vendors were involved in malpractices, such as incorrect or inflated invoices, who have been blocked for further business with the company.
"These vendors were also identified during the GST Enquiry. The company has already issued legal notices to these vendors to recover the amount and will be filing civil/criminal cases against them in the coming days," said BharatPe.
The company has terminated the services of several employees in departments who were directly involved with these blocked vendors.
"If required, the company will be filing criminal cases against some of these employees for the misconduct and act of cheating committed by them against the company," it added,
