Ashneer Grover, the founder of BharatPe, received a salary of Rs 1.69 crore in FY22, while Madhuri Jain Grover, his wife and the former head of controls, received Rs 63 lakh, reported Moneycontrol.
Due to allegations of financial misconduct, the couple was fired from the unicorn fintech company in 2022.
Suhail Sameer, the former CEO of BharatPe, received a salary of Rs 2.1 crore in FY22, according to the company's financial records, while Rajnish Kumar, the chairman and former president of the State Bank of India, received a salary of Rs 21.4 lakh.
Early this month, Sameer resigned as CEO.
Shashvat Nakrani, the company's founder and board member, received a salary of Rs 29.8 lakh, and board member Kewal Handa received a salary of Rs 36 lakh during that time.
Share-based payments to individuals are not, however, a part of these compensations, as per the company. In FY22, the company's share-based payment expenses increased by 218 per cent to Rs 70 crore, according to its financial statements.
Grover, who is presently defending himself against numerous legal actions brought by the company, had voiced his displeasure with Rs 315 crore in employee stock options (ESOPs) given to BharatPe's executive team in FY22.
He claimed in a letter to the board of directors and investors that four important members of the company's management team — Chairman Rajnish Kumar, Founder Shashvat Nakrani, Former CEO Suhail Sameer, and General Counsel Sumeet Singh — had received the majority of the ESOPs.
Additionally, BharatPe's FY22 financial statement includes the qualified opinion of its auditor, which calls attention to "material weaknesses" in the company's financial management as a result of insufficient internal controls that resulted in phony invoices and a fine from tax authorities.
BharatPe's operational revenue increased by 284 per cent to Rs 457 crore in FY22, but its net loss increased by 3.5 times to Rs 5,610 crore.
In FY 22, the company's costs for salaries and wages increased by 116 per cent to Rs 110 crore, and its costs for advertising increased by 535 per cent to Rs 246 crore.
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