Ashneer Grover News: Ashneer Grover Forms New Firm and Calls It ‘The Third Unicorn’

A few months after his controversial exit from BharatPe, Ashnir Grover and his wife Madhuri Jain opened a new firm third unicorn – according to statements in Ministry of Corporate Affairs (MKA).

The former managing director and co-founder of BharatPe founded the company on July 6, 2022 with his wife and has no other directors other than a couple as of now.

The authorized capital of the company is 20 thousand rubles, and the paid-in capital is 10 thousand rubles. While it is still unclear what sector his firm will operate in, the Memorandum of Association (MoA) filed under the MCA points to a technology firm.

Ashnir Grover, who turned 40 on June 14, hinted at his new venture in a tweet: “Today I turn 40. Some will say that I have lived a full life and experienced more than most. Created value for generations. For me, it’s still unfinished business. Time to destroy another sector. It’s time for the Third Unicorn!!”

Grover was in talks to create something of his own following allegations of misappropriation of company funds, which subsequently led to both leaving the firm.

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Grover left the fintech startup in March of this year. alleging disrespectful treatment and vilification. Both Grover and Jain argued that their dismissal from BharatPe was unfair and blamed CEO Suhail Sameer and Chairman Rajneesh Kumar for the same.

“I am the largest shareholder in BharatPe. I resigned for the sake of the company and employees, and it would be wrong if I did not “stay aside”. And my bet has value,” Grover said.
ETtech exclusive interview on March 1st after the application for resignation.

Grover filed
to file an emergency application with the Singapore International Arbitration Center (SIAC) to stop a “governance review” that dealt with allegations of financial misconduct at a fintech company, but was rejected by an international arbitrator.

consulting firm
Initial investigation of Alvarez and Marsal testified that members of Grover’s family, including his wife, a former head of control at BharatPe, were allegedly involved in the company’s financial irregularities.

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