Kotak Mahindra Bank on Sunday announced that it would pursue “legal action” against
co-founder and managing director of Fintech Bharatpe Ashneer Grover and his wife Madhuri
regarding the abusive phone call.
It acknowledged that they sent a legal notice to it on the 30th of October, but without
providing any explanations for the similar.
According to reports in the media, they had accused the lender of being unable to secure
financing and the allocation of shares for Nykaa’s Nykaa initial public offering (IPO) and
demanded 500 million in compensation.
“This notice was received by us and was replied to appropriately at the time, including
placing on record our objections to inappropriate language used by Grover.
Accordingly, appropriate legal action is being pursued,” an announcement in the media
from the lender with a city-based headquarters said.
The court did not detail why this legal proceeding was taken.
A spokesperson from Bharatpe did not respond to questions about the recent
However, a few days ago, an audio clip was posted on social media in which two people are
said to be speaking to an associate manager at the bank.
The male voice shouts abuse while the male voice can be heard soothing him.
The possibility was raised that the Grover couple appeared in the viral video, but Ashneer
Grover rejected the idea declaring the tape to be “fake.”
Mr. Grover stated that the audio was fake audio made by “some scamster trying to extort
funds (USD 2,40,000 bitcoins)” and said the suspect “refused to buckle.”
“I’ve got more character. And, the internet has got enough scamsters,” the actor tweeted.
BharatPe provides services to more than 75 lakh merchants in more than 150 cities. It has
already assisted in distributing loans of more than 3,000 crores to its merchants following
the company’s launch.
BharatPe has raised more than USD 700 million in equity and debt.
Its clients are Tiger Global, Dragoneer Investment Group, Steadfast Capital, Coatue
Management, Ribbit Capital, and many more.