Ashneer Grover, who was ousted from BharatPe, has now decided to launch his new venture without the hassles of any investors.
BharatPe co-founder and former Managing Director Ashneer Grover, who came into the spotlight after being a judge on the TV show Shark Tank India, recently had a public fall out with the board of directors of the company and eventually decided to leave BharatPe.
Soon after leaving behind the company he founded, Grover has revealed plans to start his own venture soon, but this time, doing away with the hassles of seeking funds from any investors.
Grover, who along with his wife Madhuri Jain Grover has been stripped of all company titles over alleged "extensive misappropriation of company funds" and using "company expense accounts" to "enrich themselves and fund their lavish lifestyles", said he will not go back to investors again.
As per media reports, Ashneer Grover, during the recently-held TiECon-2022 start-up and entrepreneurial event in Chandigarh, said, “I wish to start my own venture with my own money and make it profitable.”
"I don't want to go to the investors again," Grover told a panelist, adding that his tussle with BharatPe is a "badly fought corporate battle".
This comes just a few days after Ashneer Grover threatened legal action against BharatPe CEO Suhail Sameer and the board for his comments on the professional networking platform LinkedIn against his sister Ashima Grover, along with seeking a resignation from Chairman Rajnish Kumar.
In a letter written to BharatPe Board, Ashneer said that Sameer should be "immediately served a show-cause notice for his despicable public behaviour and immediately put on a leave of absence to manage the damage to the Brand of the company".
Ashneer Grover submitted his resignation from the company on March 1, stating that the board of BharatPe had been leveraging his personal network to scale up their payments business and later treated him in “the most disgraceful manner”.
Grover’s resignation letter reads, “Am I perfect? As every other human being does, I am sure I have my follies. I have been told that I am too straightforward [sic], headstrong, and have very demanding standards when it comes [to] work. But it is these qualities that have resulted in BharatPe’s exponential growth in becoming an industry behemoth.”
(With IANS inputs)
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