The former managing director and cofounder of BharatPe established the company on July 6, 2022, with his wife and has no other directors as of now apart from the couple.
The authorised capital for the company is stated to be Rs 20 lakh and the paid-up capital is Rs 10 lakh. Though it is still unclear as to which sector his firm will operate in, the Memorandum of Association (MoA) filed under MCA points towards a tech-enabled firm.
Ashneer Grover, who turned 40 on June 14, had hinted about his new venture in a tweet saying, “Today I turn 40. Some will say I’ve lived a full life and experienced more things than most. Created value for generations. For me, it’s still unfinished business. Time to disrupt another sector. It’s time for the Third Unicorn!!”
Today I turn 40. Some will say I’ve lived a full life and experienced more things than most. Created value for gene… https://t.co/NXFZh3tTxX
— Ashneer Grover (@Ashneer_Grover) 1655167356000
Grover has been in the talks to start something new of his own following allegations of misappropriation of company funds, which subsequently led to the departure of both from the firm.
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Grover resigned from the fintech startup in March this year claiming disrespectful treatment and vilification. Both Grover and Jain have maintained that their ouster from BharatPe was unfair and blamed CEO Suhail Sameer and chairman Rajnish Kumar for the same.
“I am the single largest shareholder of BharatPe. I resigned for the company and for the employees and it would have been wrong for me to not ‘stay away’. And there’s a value to my stake,” Grover had said in an
exclusive interview with ETtech on March 1 after tendering his resignation.
Grover had filed
for an emergency plea in the Singapore International Arbitration Centre (SIAC) to stop a “governance review” which was looking into allegations of financial irregularities at the fintech company but had it rejected by the international arbitrator.
Consulting firm
Alvarez & Marsal’s initial investigation showed that Grover’s family members, including his wife, the former head of controls at BharatPe, were allegedly involved in financial irregularities at the company.
