'I'm sure it's got nothing to do with me': Ashneer Grover on MCA notice to BharatPe

Ashneer Grover, co-founder of fintech start-up BharatPe and ex-judge of Shark Tank India, on Wednesday said in a post on X (previously Twitter) that he has nothing to do with the Ministry of Corporate Affairs (MCA) notice against the fintech start-up.

He also said that he himself has moved the National Company Law Tribunal (NCLT) against the company. Grover's post on X came after BharatPe received a notice from the Ministry of Corporate Affairs (MCA) seeking details about its operations and the actions taken its co-founder Ashneer Grover. 

"I am happy MCA is looking into @bharatpeindia company matters. I’ve myself moved NCLT against the Company. I don’t have the MCA notice - it’s served to Company - not me - I am sure it’s got nothing to do with me," Grover said in a post on X. 

The MCA, in its notice, also questioned the conclusions in a status report filed by the Economic Offences Wing (EOW) of the Delhi Police. Delhi Police EOW investigated allegations of financial irregularities at BharatPe, The Economic Times reported. 

The company said that it has received the notice, which is linked to an investigation that started in 2022. MCA's Registrar of Companies asked for additional information in a letter, a BharatPe spokesperson told the publication.  Back in 2022, the Ministry of Corporate Affairs asked BharatPe to provide information regarding its internal governance, mutual fund investments and stock options given to independent directors including Rajnish Kumar. 

BharatPe said the information sought was a part of an ongoing inquiry disclosed in its audited results. The company is cooperating with the authorities, as per the company spokesperson. Meanwhile, the fintech start-up is also involved in a legal dispute with co-founder Ashneer Grover and his wife Madhuri Jain Grover. Madhuri Jain Grover was the company's Head of Controls. 

In December 2022, BharatPe filed a civil suit in the Delhi High Court against Grover and his family and sought up to Rs 88.67 crore in damages for alleged embezzlement of funds. The company had also sought an injunction against Grover from revealing confidential information about the company. 

Also Read: Fintech start-up BharatPe under MCA scanner amid allegations against co-founder Ashneer Grover: Report