Shashvat Nakrani, another BharatPe co-founder, wrote in an email to employees that BharatPe’s board “acted swiftly and decisively to maintain good corporate governance” by removing its co-founder Ashneer Grover from all positions. Mail copy has been verified by The Indian Express.
The company, which has an annualized total payment volume (TPV) of $16 billion, expects to quadruple its revenue this fiscal year from last year, Nakrani wrote.
Nakrani accused Grover of creating a “false narrative” about BharatPe, writing, “It is important to note that this is a deviation, not the norm.”
Nakrani wrote the email to BharatPe employees after the company’s board removed Grover from all positions at the startup based on the findings of a PricewaterhouseCoopers audit of the company’s corporate governance practices. However, Nakrani did not disclose PwC’s findings in an email and said the contents of its report were confidential. PwC went to trial in late January following a complaint against BharatP for wrongdoing.
Complete News Source : The Indian Express
