Ashneer Grover accuses BharatPe of adding a convicted US wire fraudster to its shareholding after obtaining RBI approvals.

Ashneer Grover, former MD of BharatPe, has written to RBI Governor Shaktikanta Das requesting an investigation into the company's shareholding. Grover alleges that BharatPe deceived the regulator by adding Bhavik Koladiya, convicted of wire fraud in the US, to the company's cap table after obtaining licenses. Grover claims the company's board and investors "warehoused" Koladiya's shares before bringing him back after obtaining RBI approvals.

March 07, 2024
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