Ashneer Grover, co-founder and former managing director of BharatPe, has ended his legal battle with the fintech company by withdrawing his petition from the National Company Law Tribunal (NCLT). The withdrawal follows a settlement agreement reached between Grover and BharatPe, submitted to the tribunal on October 14, 2024.

The legal dispute began after Grover was removed from his position as managing director in March 2022. His original petition called for reinstatement and an audit of BharatPe by the Ministry of Corporate Affairs, as well as the reinstatement of his wife, Madhuri Jain, who was terminated by the board.

As part of the settlement, Grover has severed all ties with BharatPe, with his shares to be managed by a family trust, while some shares will be transferred to the Resilient Growth Trust, benefiting the company. The settlement marks the conclusion of the long-standing legal confrontation between Grover and BharatPe.

Key Highlights:

• Ashneer Grover has withdrawn his petition against BharatPe following a settlement agreement.
• The NCLT and NCLAT cases have both been dismissed as part of the resolution.
• Grover will no longer have any involvement with BharatPe, marking the end of their legal dispute.