The Delhi High Court has sought BharatPe's former MD Ashneer Grover's reply in 30 days on plea filed by Bhavik Koladiya. Bhavik Koladiya, BharatPe's co-founder, filed a plea wanting to reclaim shares from Ashneer Grover. The high court has asked Grover to not create any third party rights on 16,110 shares claimed by Koladiya as his own.

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High Court has made the following observations in the case:

-- Not possible to legally render a final finding now, allegations of fraud will have to be proven at trial.

-- Surprising to see that two agreements were being contemplated at Rs 31k/share and 5.5k/share. Surprising to see this happen at a level where there is supposed to be a high level of scrutiny.

Bhavik Kalodiya's lawyer told Delhi high court, "To date, Bhavik hasn't received funds despite selling shares, is entitled to get shares back as an unpaid seller. Client was influenced by co-founder Ashneer due to a trust factor. We were in talks earlier, but now there's no chance of a settlement."

In response, Grover's lawyer has said that the agreement to sell being cited is a forged document, Bhavik even paid tax on Rs. 88 lakh paid to him.

Bhavik Koladiya had filed a case against his former partner Ashneer Grover, to reclaim his shares in the company. In August last year, Koladiya resigned from BharatPe. News reports have earlier suggested that Grover had been holding some shares of BharatPe on Koladiya's behalf.

Koladiya and Shashvat Nakrani founded BharatPe in 2017. In 2018, Grover came on board as the CEO and co-founder of the company.

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