Government sent notice to fintech company BharatPe, sought information about founder Ashneer Grover

The fintech company BharatPe has received a notice from the Ministry of Corporate Affairs, Government of India. This notification is being sent in accordance with Section 206 of the Companies Act, whereby the government has requested information from the business regarding the lawsuit that its founder, Ashneer Grover, is the target of.

According to media reports, the Ministry of Corporate Affairs has sought information from the company about the evidence that the company has submitted in court in the criminal case filed against Ashneer Grover. The fintech company came into controversy in the year 2022 when the company's founder Ashneer Grover used objectionable language against a Kotak Group employee and threatened him. Kotak Group employee Nykaa could not secure the allotment during the IPO of the company. Following the controversy, Ashneer Grover had resigned from the post of Managing Director of BharatPe and the company had decided to get its financial accounts audited.