Kotak confirms receiving legal notice from Ashneer Grover, says no breach by Group

The Kotak Group on Sunday said it had received a legal notice from BharatPe CEO Ashneer Grover and his wife Madhuri Grover, addressed to Kotak Mahindra Bank. 

"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 Mr. Grover," it said in a statement.

Earlier today, reports said that the Grovers had sent a legal notice to billionaire banker and Kotak Mahindra Bank MD and CEO Uday Kotak and the bank's top management for failing to provide financing for the initial public offering (IPO) of Nykaa.

In the notice, sent on October 30, Grover and his wife have sought damages for the gains they would have made by subscribing to shares of Nykaa worth Rs 500 crore, MoneyControl reported.

The latest development comes a few days after an audio clip went viral on social media allegedly featuring BharatPe CEO and a family member hurling abuses on a Kotak Group employee.

The Kotak Group's reference to "inappropriate language" seems to be about this clip. At that time, Grover had said that he was being targeted by scamsters on Twitter and the audio clip was fake.

The Kotak Group also added that there was no breach or violation by it. "We would like to confirm that there is no breach or violation by the Kotak Group in any manner whatsoever."

Also Read: 'Fake audio by scamster': BharatPe CEO Ashneer Grover on viral audio of him abusing banker

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