Resilient Innovations, the parent company of fintech startup BharatPe, has escalated its dispute with co-founder Ashneer Grover through legal action. They've filed a case in Delhi High Court seeking an injunction against Grover to restrain the disclosure of what they consider 'confidential information' about the company.
The Economic Times reported the recent hearing against Grover, BharatPe's estranged co-founder. The issue arose from Grover sharing details about equity allocation and funding components on X (formerly Twitter) related to BharatPe's Series E round, which valued the company at $2.86 billion post a $370 million raise led by Tiger Global and Dragoneer Investor group.
Grover's Twitter Revelation:
Grover's social media post on this matter has been deleted, but the company's counsel alleged that despite Grover's resignation in March 2022, he retains 'sensitive' company information, violating his employee agreement.
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Grover's Explanation and Acceptance
During the court session presided over by Justice Sachin Dutta, Grover's counsel issued an apology, accepted by the bench, citing the necessity to share information due to ongoing legal proceedings against him.
The case adds to a previous civil suit filed by Resilient Innovations against Grover and his family, accusing them of causing around ₹81.3 crore in damages to the company. This separate case is ongoing in another division of the high court. The next hearing for the recent case is pending.