Court Bars Ashneer Grover From Creating 3rd Party Rights In BharatPe Shares
NDTV
Bhavik Koladiya and Shashvat Nakrani founded BharatPe in July 2017, although the firm was not incorporated till March 2018. Mr Grover had joined the company in June 2018 and resigned in March 2022.
The Delhi High Court on Tuesday asked payment app BharatPe's former MD Ashneer Grover not to transfer or create any third-party rights in the shares transferred to him by the company's co-founder Bhavik Koladiya.
Justice Prateek Jalan passed the interim order on a lawsuit by Mr Koladiya seeking to reclaim the shares he transferred to his erstwhile colleague.
The judge opined that the plaintiff, Mr Koladiya, made out a prima facie case for the grant of such an injunction as he would suffer irreparable loss and prejudice if third-party rights were created in the shares being claimed by him.
