The Delhi High Court on Thursday (February 22) disposed of an appeal filed by BharatPe co-founder Shashvat Nakrani to restrain Former Managing Director of BharatPe Ashneer Grover from selling or alienating shares in the company that Nakrani had sold to him.
Lauding the court's decision a day later, Grover, in a social media post, said, "What a good day and great outcome in Hon’ble Delhi High Court today! Winning streak continues!!"
What a good day and great outcome in Hon’ble Delhi High Court today ! Winning streak continues !!
I’ll attribute the outcome to 1) Simple truth and case facts, 2) Conduct befitting the truth, 3) Patience and Faith in Courts and 4) Giri Subramaniam - my sole lawyer in all…— Ashneer Grover (@Ashneer_Grover) February 23, 2024
The appeal stemmed from a December 15, 2023, order by single-judge Justice Sachin Datta, who had rejected an interim application filed by Nakrani seeking to restrain Grover from selling or transferring the shares.
Justice Datta, while dismissing the plea, directed Grover to inform the Court when he decides to sell or transfer the shares in question, according to the Bar and Bench report.
The case revolved around the transfer of shares to Grover, with Nakrani alleging that, despite Grover's claim of paying for them in cash, the money was never received.
The dispute over the ownership and payment for the shares has led to a legal battle between the co-founders.
According to media reports, BharatPe, founded by Shashvat Nakrani and Bhavik Koladiya in March 2018, with each owning 50% of the firm, saw Ashneer Grover join as a third co-founder and board member in July 2018.
Grover later purchased 3,192 shares from Nakrani and Koladiya, sparking the ongoing legal dispute.
(Edited by : Amrita)
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