Live
- Post-Poll Violence: SIT finds 1,152 still at large
- BJP washing machine at full spin in Bengal: Cong
- Diamond hunters descend on Pathikonda
- Never spoken against minorities says Modi
- BJP to score big in South: Aur chaar June 400 paar says Modi
- Cabinet nod to NDSA report on Medigadda
- Achievement of Congress in last one year is 'big zero': Karnataka BJP President
- Strict action will be taken if adulterated food items are sold
- 6 sheep and 2 goats were killed by lightning.
- Indian mixed relay team breaks national record, wins gold in Asian Relays
Just In
Delhi HC restrains Ashneer Grover from creating third party rights in BharatPe shares
The Delhi High Court on Tuesday issued a restraining order against Ashneer Grover, the former Managing Director of BharatPe, preventing him from creating any third-party interests or rights in the 16,110 shares transferred to him by the fintech company's co-founder, Bhavik Koladiya.
New Delhi: The Delhi High Court on Tuesday issued a restraining order against Ashneer Grover, the former Managing Director of BharatPe, preventing him from creating any third-party interests or rights in the 16,110 shares transferred to him by the fintech company's co-founder, Bhavik Koladiya.
The order was issued by Justice Prateek Jalan in response to an interim application filed by Koladiya as part of his ongoing suit against Grover.
The court stressed that Grover must refrain from making any third-party arrangements related to the shares until the conclusion of the legal proceedings.
Grover, who joined BharatPe, co-founded by Koladiya and Shashvat Nakrani in 2017, as the third co-founder in 2018, had publicly stated last year that he would not involve any third parties in these shares.
This development follows a division bench's order earlier this year for an expedited trial of a suit filed by Nakrani, seeking to prevent Grover from alienating, transferring, or creating any third-party rights in the "unpaid shares" purchased from him.
Previously, a single judge bench had denied Nakrani's request to restrain Grover from creating third-party rights in the unpaid shares, rejecting an interim application in the suit.
In March this year, the high court issued an order restraining Grover from making defamatory and derogatory statements against the fintech company, its office bearers, or officials. In November last year, the court imposed a fine of Rs 2 lakh on Grover. Justice Pratibha M Singh had directed Grover to remove his tweets, including one calling the SBI Chairperson petty, within 48 hours.
The court had also mandated the Economic Times to take down an article, based on letters written by Grover to the RBI Chairman.
BharatPe had approached the HC months after Grover and his wife were dismissed from the company in 2022 over allegations of misappropriation of funds. In its suit, BharatPe has claimed damages worth Rs 88.67 crore from Grover, his wife, and his brother for alleged cheating and misappropriation of funds.
© 2024 Hyderabad Media House Limited/The Hans India. All rights reserved. Powered by hocalwire.com