BharatPe Vs Kotak Mahindra Bank: As Both Parties Send Legal Notices To Each Other, Netizens Say Uninstall BharatPe App

Notably, an audio clip had surfaced on social media last week where a couple was hurling abuses at the relationship manager from a bank rumoured to be associated with Grover.

Published: January 11, 2022 5:38 PM IST

By India.com Business Desk | Edited by Manmath Nayak

Ashneer Grover, BharatPe MD and Co-Founder
Ashneer Grover Resigns From BharatPe (FILE PHOTO)

BharatPe Vs Kotak Mahindra Bank: The Kotak Mahindra Bank has said it would take legal action against angel investor Ashneer Grover, managing director of financial tech company BharatPe, and his wife Madhuri over an abusive call matter. In a statement, the bank acknowledged that the couple had sent a legal notice to them, without elaborating on the reasons for the same on October 30, accusing that the bank failed to secure finance and allocation of shares in the Nykaa IPO, seeking Rs 500 crore in damages.

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The Kotak Mahindra Bank also alleged that the audio clip is of their employee being threatened and abused by the couple for failing to secure financing and allocation of share in Nykaa’s blockbuster initial public offering last year.

“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 Grover. Appropriate legal action is being pursued,” the Kotak Mahindra Bank said in a statement.

Notably, an audio clip had surfaced on social media last week where a couple was hurling abuses at the relationship manager from a bank rumoured to be associated with Grover, but Ashneer Grover denied any such claims. He also called the entire episode ‘fake’.

It must be noted that BharatPe is a fintech company catering to small merchants in India. The fintech firm serves to over 75 lakh merchants across 150 Indian cities and has already facilitated the disbursement of loans totalling over Rs 3,000 crore to these merchants since its launch.

After exchange of charges started, #UninstallBharatPe began to trend on Twitter. Here’s what netizens said about the feud.

As per reports, Grover said that some scamster is trying to extort funds (USD 2,40,000 bitcoins) and that he has more character than that, in a tweet which was deleted later.

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Published Date: January 11, 2022 5:38 PM IST