Ashneer Grover, co-founder and managing director of BharatPe has again found himself in a controversy. The matter relates to a leaked phone call, allegedly made from Ashneer Grover to an employee of Kotak Mahindra Bank. In the phone conversation, it was alleged that Ashneer used abusive language with expletives and even gave out death threats.
Ashneer Grover’s response
Responding to the leaked audio clip, Ashneer had said that it was fake. He explained that some scamster was trying to intimidate him and had demanded an extortion of $240,000. He said that the extortion was to be paid in bitcoins. However, Ashneer later deleted his tweet about the extortion story.
He again provided an explanation that he deleted the tweet, as the audio clip is no longer available in public domain. He said the audio clip has been deleted from Twitter and even Soundcloud. As such, he deleted his tweet about the extortion thing.
Ashneer Grover’s equations with Kotak Mahindra Bank
Whether or not the audio clip was genuine or fake is something that will probably be decided in a court of law. However, one thing is clear that Ashneer Grover is not too happy with Kotak Mahindra Bank.
As per Grover’s legal team, Kotak Mahindra bank failed to provide financing for IPO of FSN (Nykaa’s parent firm). This happened even when Grover was assured of getting the margin funding for the IPO. Also referred to as IPO financing, margin funding is a type of short-term loan provided to high net-worth individuals.
The legal notice sent by Ashneer Grover to Kotak Mahindra bank states that due to inability to provide margin funding, Ashneer Grover missed out on a major business/investment opportunity. According to the notice, Kotak had denied finance on reasons such as high lending rates and erratic FII movements.
Kotak Mahindra bank response
In response to the legal notice sent by Ashneer Grover’s legal team, Kotak Mahindra bank has said that it will take appropriate legal action against Ashneer Grover in the matter. The bank said that there is no question of any breach or violations on their part.
Kotak Mahindra bank has also pointed out to use of abusive language on part of Ashneer Grover. This presents the possibility that the audio clip that was leaked on Twitter may have actually been true. The entire matter is to be decided in the court of law.
This is not the first time Ashneer Grover of BharatPe has been found in a controversy. Earlier, there were reports that work culture at BharatPe was quite demanding. Due to this, it was alleged that many employees had left the company. Ashneer Grover has also been criticized for his rude behavior at Shark Tank India show. This is an Indianized version of the US-based entrepreneur-investor reality show.