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The Delhi High Court has issued a directive to Ashneer Grover, the former managing director of BharatPe, to remove specific posts on X targeting BharatPe and Rajnish Kumar, the former chairman of the State Bank of India (SBI), within 48 hours.
Grover's social media posts, which referred to Kumar and the company as "petty people," were deemed by the court as damaging to BharatPe's reputation and as unnecessary provocations towards Kumar, who now chairs BharatPe's board.
Allegations and apologies
Grover's contentious relationship with BharatPe and Kumar has been marked by public disputes and allegations. Following his departure from BharatPe in early 2022, Grover has been involved in a series of allegations against the company and its board members, including a claim that Kumar unjustly enriched himself with equity shares and increased his salary threefold since joining the board.
Despite these allegations, Grover had previously apologized for disclosing confidential information about BharatPe's Series E funding round on social media, promising such disclosures would not recur.
Legal and financial turmoil
The ongoing legal battle between BharatPe and Grover has seen both parties engaging in defamation suits and criminal complaints. BharatPe's legal actions against Grover include a civil suit seeking damages and a criminal complaint alleging breach of trust and forgery, among other charges.
This legal strife comes amid BharatPe's financial challenges. The company reported a net loss that widened by 12% year-on-year despite a significant increase in operating revenue.
Delhi HC orders ET to take down the article
In addition to directing Grover, the Delhi High Court also ordered The Economic Times to take down an article that detailed Grover's allegations against BharatPe and Kumar, based on letters Grover wrote to the Reserve Bank of India (RBI).
Grover's letters to the RBI accused BharatPe of defrauding the central bank and called for an investigation into Kumar's actions and the company's shareholding disputes, particularly concerning the involvement of Bhavik Koladiya, a co-founder with a controversial past.