“End of a Saga” as BharatPe co-founder Ashneer Grover resigns

Ashneer Grover, BharatPe's embattled co-founder and managing director, resigned in an email sent to the company at midnight on March 1. Ashneer's resignation comes after a two-month battle between the board headed by Rajnish Kumar, and the BharatPe Co-founder.
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Ashneer Grover, BharatPe's embattled co-founder and managing director, resigned in an email sent to the company at midnight on March 1.

"I am being forced to bid adieu to a company, of which I am a founder," Ashneer said in the email. He maintained that the board will not find a single act of impropriety against him.

Ashneer's resignation comes after a two-month battle between the board headed by Rajnish Kumar, and the BharatPe Co-founder.

In a two-page email, Ashneer said, "Unfortunately, what has happened in the recent past seems to be a battle of egos being played to the gallery of the media under the charade of “good governance.” 

He added, "The fundamental fact is that all of you, as investors, are so far removed from reality that you’ve forgotten what real businesses look like and have no appreciation for what it took to run this enterprise day in and day out."

Touching upon his middle-class background, and crediting IIT Delhi and IIM Ahmedabad with the best of what the Indian education system has to offer, Ashneer claimed to be a professional with an impeccable track record who has been instrumental in building two unicorn businesses — Grofers and BharatPe — from scratch.

Read more on BharatPe Co-founder Ashneer Grover’s resignation.


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