BharatPe founder Ashneer Grover goes on voluntary leave, a look at the ongoing brawl with Kotak

Startup vs the institution, this legal battle between Bharat Pe founder Ashneer Grover and Kotak has the script of a blockbuster. From leaked audio recording to retracted tweets to allegations galore, the basic brawl is reportedly over Kotak not providing financing to BharatPe's co-founder and MD Ashneer Grover and wife Madhuri Grover for the Nykaa IPO.

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The notice was sent end of October so why are we talking about it now? The fight took centre stage on social media and the veteran ban now reacting to the ordeal. Here is what has transpired-:

January 5: An audio recording reportedly of Bharat Pe founder Ashneer Grover talking to a Kotak Bank employee surfaces on Twitter. The audio clip has Grover sounding agitated and even abusive towards the Kotak Bank employee over not getting financing for Nykaa's IPO

January 6: Grover had claimed that the viral audio clip was “fake” adding that it was a “scamster” who put it out.“Folks. Chill. It’s a fake audio by some scamster trying to extort funds (US$ 240K in bitcoins). I refused to buckle. I’ve got more character. And Internet has got enough scamsters." - Grover subsequently deleted that tweet

January 10: Kotak Mahindra Bank acknowledges notice but the statement raises questions about 'fake' audio leak as the bank says they have placed on on record their objections to inappropriate language used by Mr. Grover. Kotak has also said that legal action is being pursued.

As per reports this is what the legal notice to Kotak stated "Kotak’s refusal to provide IPO financing to our clients at the eleventh hour has completely crippled our clients’ ability to participate in the Nykaa IPO and deprived them of a business/investment opportunity about which they had informed Kotak more than a month in advance of the launch of the IPO. Had Kotak informed our clients at the very beginning that it would be unable to provide IPO financing for the Nykaa IPO, our clients would have approached other financiers who were ready and willing to provide IPO financing to our clients for this IPO."