Fintech firm BharatPe's managing director Ashneer Grover has resigned minutes after receiving an upcoming board meeting agenda, which included consideration of action against him based on the report submitted by advisory firm PwC.
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"Ashneer Grover resigned as Managing Director and from the Board Director of BharatPe minutes after receiving the agenda for upcoming Board meeting that included submission of the PWC report regarding his conduct and considering actions based on it. The Board reserves the right to take action based on the report's findings," Bharatpe said in a statement.
Ashneer Grover resigned from BharatPe just after a month of going on a 'leave of absence' The founder however remains to be the largest shareholder in the fintech even as he gives up his executive posts just a few days after his wife's services were terminated.
The resignation comes as Grover faced a body-blow from an arbitration ruling he had filed against the company's investigation against him, with an emergency arbitrator holding that there was no ground to stop governance review at the fintech firm.