BharatPe threatened to sue Ashneer Grover for 'hurling baseless allegations against the company'. On March 2, a day after Grover's resignation, the firm said that he is no longer an employee, a founder, or a director of BharatPe over alleged financial irregularities. "Minutes after Mr. Ashneer Grover received notice that some of the results of the inquiry would be presented to the Board, he quickly resigned," stated BharatPe.
Courtesy: NDTV India
BharatPe fired Madhuri Jain, the controller of the company and wife of Ashneer Grover (Co-founder of BharatPe). On February 23, Jain was sacked in allegations of financial irregularities. Notably, on February 22, the company tendered a termination letter to Jain with immediate effect. Madhuri Jain was incharge of finances at the $2.28 billion value company, since 2018. Meanwhile, final report over the matter is yet to be tabled before board… read-more
Courtesy: Economic Times
PhonePe, which is owned by Flipkart, claims to hold the 'Pe' suffix as part of its registered brand. The business has requested an injunction to prevent BharatPe's parent company, Resilient Innovations Pvt. Ltd, from "misusing" the suffix. PhonePe is anticipated to launch a new lawsuit soon. “We will continue to strongly defend any legal action that PhonePe threatens to institute against us," stated BharatPe spokesperson.
Courtesy: Live Mint
PhonePe, which is owned by Flipkart, has sued rival BharatPe in court for recently released 'buy now pay later' product, 'PostPe,' which uses the 'Pe' suffix. The business has filed an injunction with the Bombay high court to prevent Resilient Innovations Pvt. Ltd. from abusing its brand 'PhonePe.' This comes four months after PhonePe dropped its injunction case against BharatPe on an identical matter.
Courtesy: Live Mint
According to the IIFL Wealth Hurun India Rich List 2021, BYJU CEO Raveendran's health grew by 19% to Rs 23,400 crore, surpassing share trader Rakesh Jhunjhunwala's wealth of Rs 22,300 crore. While BharatPe's co-founder Nakrani, 23, became the youngest person who secured the position in the list with his wealth of Rs 1,700 crore. However, Reliance Industries Chairman Mukesh Ambani topped the list followed by Gautam Adani.
Courtesy: The Siasat Daily