Kotak Mahindra Bank said on Sunday that it is taking “legal action” against the co-founders and managing directors of the financial technology company Bharatpe Ashneer Grover and his wife Madhuri in connection with the abuse of the phone.
The lender admitted that the couple had sent a legal notice to them on October 30, but did not elaborate on the reasons. According to media reports, the couple accused the bank of failing to obtain financing and share allocation in Nykaa’s initial public offering (IPO), and demanded compensation of Rs 5 billion.

“This notice was received by us and was replied to appropriately at the time, including placing on record our objections to inappropriate language used by Grover. Appropriate legal action is being pursued,” a media statement from the city-headquartered lender said.

However, it did not specify the exact point at which legal action is being taken.

A spokesperson for Bharatpe declined to comment on developments when contacted.

Last week, an audio clip appeared on social media in which a couple was allegedly talking with what appeared to be a bank account manager. The male voice was insulting, another male voice was comforting him. Some people speculated whether this was the Grover couple in the viral footage, but Ashneer Grover denied the same claim, calling the videotape “fake”.

Mr. Grover said it was a fake audio of “some scammers trying to blackmail funds ($240,000 in bitcoin)” and added that he “refuses to seize”.

“I have more personality. Also, there are enough crooks on the Internet,” he wrote on Twitter.

BharatPe serves more than 7.5 million merchants in 150 cities. Since its establishment, the company has provided its merchants with loans totaling more than Rs 30 billion. To date, BharatPe has raised more than US$650 million in equity and debt.

Complete News Source : NDTV