The board members of fintech firm BharatPe will meet on Tuesday evening to take Ashneer Grover’s resignation as Managing Director and Board Director on board and to review the results of an external audit report, a spokesperson of the company said.

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The announcement came hours after BharatPe’s founder Grover tendered his resignation from the top posts saying he and his family have been embroiled in baseless and targeted attacks. This is days after the services of his wife Madhuri Jain Grover as head of controls were terminated on allegations of misappropriation of funds.

BharatPe said Grover resigned as MD and Board Director of the fintech firm just minutes after receiving the agenda, which includes the PwC audit report, for the upcoming board meeting. The board reserves the right to take action based on the report’s findings, it added.

Grover is understood to have submitted his resignation 11 minutes after the board meeting agenda was distributed.

Also Read: Ashneer Grover sends scathing resignation letter to BharatPe board; read it here

According to sources, PwC's report shall largely focus on Grover's role and conduct at BharatPe. A larger corporate governance audit is still underway and the report is likely to be submitted later, they added.

External accounting firm PwC was hired for an independent audit and governance review of the company amid reports of financial irregularities at the company even as Grover denied all allegations along those lines.

Also Read: Ashneer Grover loses arbitration against governance review at BharatPe

(Edited by : Kanishka Sarkar)

First Published:Mar 1, 2022 11:27 AM IST