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Ashneer Grover, the former managing director and co-founder of BharatPe, was fined Rs 2 lakh by the Delhi High Court on Tuesday for disparaging the company on social media even though he had promised the court he wouldn't.
According to Bar and Bench, the court fined Ashneer Grover Rs 2 lakh for disobeying its directions and expressed its disgust at his behaviour.
In addition, Ashneer Grover submitted an apology to the Delhi High Court about his social media remarks against BharatPe.
Enmeshed in a string of scandals, Grover had disclosed information on social media about the secondary components and equity distribution of BharatPe's most recent Series E investment round.
Subsequently, BharatPe's parent company, Resilient Innovations, filed a new lawsuit in the Delhi High Court against him, requesting an injunction to stop the release of what it describes as "confidential information" about the business.
On November 24, BharatPe's legal representative contended in court that Grover's conduct went beyond the terms of his employment agreement, claiming that he revealed proprietary information about the company.
In addition to the current civil litigation that BharatPe launched against Grover and his family, there is also a recent legal action. The lawsuit claims financial misappropriation and demands damages of up to Rs 88.67 crore.
Grover and his spouse, Madhuri Jain, were questioned last week by the Delhi Police's Economic Offences Wing (EOW) on the purported fraud case.
Links between Grover's wife Jain and her family, who was once in charge of BharatPe's controls, and at least eight human resource consulting firms were discovered during the police inquiry.
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On November 17, the two were detained at Delhi's Indira Gandhi International Airport due to a look-out circular (LoC) that had been requested by the EOW and issued against them.
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