Does Ashneer Grover Want BharatPe’s Banking License to Be Cancelled?

The tussle between BharatPe founder Ashneer Grover and the board members of the company doesn't seem to be ending soon.

BharatPe's founder and former managing director Ashneer Grover wants the removal of co-founder Bhavik Koladiya from the board of directors.

Otherwise, he will write to the Reserve Bank of India to cancel BharatPe's banking license and applied payment aggregator's license.

According to the report, shares of Bhavik Koladiya were bought in pre-series A funding by Ashneer Grover, co-founder Shashvat Nakrani and an angel investor Beenext.

Grover resigned from the company he founded after losing the arbitration in Singapore he filed against BharatPe.

Koladiya was recently charged with credit card fraud in the US, after which he was taken off the BharatPe board.

Source: Outlook