Ashneer Grover, former co-founder and managing director of Bharat Pay, attacked Rajnish Kumar, former Chairman of the State Bank of India (SBI). Ashneer Grover, who reached home from the Shark Tank India show, said that appointing Kumar was his biggest mistake. Grover tweeted that the appointment of Rajneesh Kumar was my biggest mistake. Explaining the reason further, he said that he ignored the data.
Grover Cited Data
Grover wrote on Twitter that when Rajneesh was the CMD, SBI stock saw a 25 per cent fall in three years. It fell from Rs 257 to Rs 192.
Grover said this is a drop in the value of eight billion dollars. He wrote that after this, the stock had reached Rs 570 with a jump of 200 per cent. According to Grover, data is never skewed. Rajneesh Kumar was appointed as the Chairman of the Bharat Pay Board in October 2021.
In October 2021. Grover talked about the appointment of Rajneesh Kumar. He had said at the time that it is a matter of great pride for us that one of the biggest stars of the Indian banking industry has agreed to join Bharat Pay as the Chairman of the Board. He said he would look forward to valuable guidance from Rajneesh Kumar and making India’s largest digital credit provider. He said he is confident that Bharat Pe will reach new heights and create the best fintech for New India under his guidance.
How Much Stake Does Ashneer Grover Have in Bharat Pay?
Apart from this, let us tell you that at present, about 8.5 per cent stake in BharatPe is with Ashneer Grover. However, out of this, 1.4 per cent shareholding is in the restricted category. Shareholding in this category means that the shareholding received as an employee of the company cannot be transferred.
The company had earlier sent a legal notice to Ashneer Grover asking him to return these shares. For restricted category shares, there is also a provision to withdraw them in the agreement with the shareholders. However, there is no official response from BharatPe yet regarding this arbitration case.
