Ashneer Grover got into trouble after a phone call that he made to a Kotak Mahindra Bank Employee where he used abusive language to him on grounds of not clearing a loan. According to a recent report Ashneer Grover who quit his position as managing director of the company under public scrutiny bought luxury cars like Porsche and told multiple people at BharatPe that he spent 130,000 dollars on a dining table.
Last month, Ashneer Grover’s wife Madhuri Jain Grover was fired from Head of Controls position due to misconduct in accounts. Currently, even Ashneer Grover is under investigation for financial frauds at his own company.
Recently Ashneer posted on LinkedIn which said, “I am appalled at the personal nature of the BharatPe Board’s statement, but not surprised. It comes from a position of personal hatred and low thinking. I think the Board needs to be reminded of $1M of secondary shares investors bought from me in Series C, $2.5M in Series D and $8.5M in Series E. I would also want to learn who among Amarchand, PWC and A&M has started doing audit on ‘lavishness’ of one’s lifestyle ? The only thing lavish about me is my dreams and ability to achieve them against all odds through hard work and enterprise. I hope the Board can get back to working soon – I as a shareholder am worried about the value destruction. I wish the Company and the Board a speedy recovery. Please get back to your actual day jobs.”
He added, “P.S. I indeed have a very lavish lifestyle. I get invited by friends with open hearts to their homes, where I have no qualms sleeping on the floor. And this is when I am on the road in US and UK raising $370M Series E. And I’ve the right to stay in any lavish hotel and charge it on the company issued credit card in my pocket. Those who haven’t built from scratch will never understand the Founder’s mentality.
After Ashneer Grover left his position BharatPe said, “it reserves all rights to take further legal action against him (Ashneer Grover) and his family.”