Under Section 206, BharatPe gets noticed by the Ministry of Corporate Affairs
In a notice under Section 206 of the Companies Act, the Ministry of Corporate Affairs (MCA) has asked for details on lawsuits filed against the company’s founder, Ashneer Grover. The MCA sent the company a letter requesting information about the criminal and civil lawsuits the business had filed against Grover.
The inquiry began in 2022 after an internal assessment, and BharatPe stated they were assisting the authorities in response.
When the company’s founder threatened a Kotak Group employee at the start of 2022 because they weren’t able to get an allocation in the Nykaa IPO, it caused a stir.
Following the confrontation that led Grover to resign as managing director, BharatPe initiated a forensic analysis of its financial processes.