Wednesday, February 21, 2024

BharatPe reveals Ashneer Grover’s salary, sacked husband and wife due to financial irregularities

BharatPe reveals Ashneer Grover's salary

BharatPe reveals Ashneer Grover’s salary, sacked husband and wife due to financial irregularities

BharatPe’s former Chief Executive Officer (CEO), Suhail Sameer took home Rs 2.1 crore in FY22, and co-founder Shashwat Nakrani earned Rs 29.8 lakh during the same period.

The fintech startup has revealed the salaries of top executives including BharatPe founder Ashneer Grover and his wife Madhuri Jain Grover in a regulatory filing. According to Moneycontrol, the former Shark Tank India chief earned Rs 1.69 crore in FY22, while his wife, who headed BharatPe, got Rs 63 lakh.

BharatPe reveals Ashneer Grover's salary

According to the filing, BharatPe’s former chief executive officer (CEO), Suhail Sameer, took home Rs 2.1 crore in FY22, and co-founder Shashwat Nakrani earned Rs 29.8 lakh during the same period.

The report said board member Kewal Handa got Rs 36 lakh and former State Bank of India chairman Rajnish Kumar got Rs 21.4 lakh.

However, the disclosed salaries of these executives do not include share-based payments made to them. As per the company’s financials, it spent Rs 70 crore in share-based payouts in FY22, a growth of 218 percent over the previous year, the report said.

BharatPe had sacked Ashneer Grover and his wife in March last year for alleged financial irregularities. The founder resigned from the company and its board a few days later. The fintech company filed a criminal case in December 2022 against Ashneer Grover and his family for damages of Rs 88.67. It accused the founder of fraud and embezzlement of funds.

Last week, the Delhi High Court issued a summons to Ashneer Grover on a suit by BharatPe co-founder Bhavik Koladia, who wants to recover the shares transferred to Mr. Grover.

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