New Delhi: Ashneer Grover, Co-Founder and Managing Director Bharatpehas resigned from the company. In an email sent to the company’s board at midnight on Tuesday, Grover wrote, “I resign as Managing Director of BharatPe with immediate effect.” I have also resigned as Director of the Board. I will continue as the largest individual shareholder of the company.”
In his letter, Grover wrote, “I write this with a heavy heart because today I am being forced to say goodbye to a company of which I am the founder.” He said that since the beginning of this year, unfortunately, he has been embroiled in “baseless and targeted attacks on him and his family by some individuals”.
His resignation comes after two months of high drama, which surfaced after an audio clip surfaced online, in which he was heard abusing a Kotak employee. Grover said he was now dooming himself to “fight a long, lonely battle” against his own investors and management; and is describing the entire episode as “a battle of egos”.
He wrote, “The fundamental fact is that as an investor you are so far from all reality that you have forgotten what a real business looks like. Your approach towards BharatPe is limited to the small window of your Zoom Meetings application, which BharatPe offers.” is far from the sweat that goes into making a business leader.None of you, including those based in India, have visited our office even once, as the pandemic has turned our lives upside down and the economy suffocated Tried it. Not even once. Not Mickey. No. Harshjit. No. Mohit. No. Teru Sain. No. Rahul. No. Deven. None. None of you came despite the invitation to inaugurate our new office. That’s how you Connected to BharatPe.”
“Your thoughts about businesses and the problems on the ground are so colored by the windows of the Ivory Tower in which you all live that you have no connection to the human element of the business. It is sad that you have also lost touch with the founder You have lost touch with me. For you, the founder of this company, has been reduced to a button to press when you need it. I stop being a human being to you,” he continued.
Grover said the investor’s blueprint to weed out an “undesirable founder” is to make him a “villain of the piece” and did the same by invoking SHA in his case, putting him on leave under the pretext of governance review. and terminate the employment of his wife. “When you wanted to take advantage of my personal network, you were so happy to do so – today I am being slandered and treated in the most shameful way possible.”
“You enslave us as the founders – drive us to build multi-billion dollar businesses and cut us off at will. I am the rebellious slave who must be hung from a tree so that no other slave like me Could not dare to be. Unfortunately, I refuse to walk that path and refuse to tolerate this constant and shameful humiliation of myself and my family. I am the one who founded this company and it is today Built up to your remarkable position, no wonder you want me out for your vested interests,” he wrote.
Grover also said that the company “will not be able to find a single act of unfairness” against him. Concluding the letter, he said, “I am leaving you with this challenge. Add half of the value I have created so far. – I am leaving with you three times the money I have used so far.” “
His resignation comes days after he lost an arbitration filed with the Singapore International Arbitration Center (SIAC), which claimed that BharatPe’s investigation against him was illegal.
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