So Ashneer Grover just stepped down from BharatPe, and in his resignation letter, he told BharatPe’s investors this: "Since you clearly believe you can run this Company better without me – I am leaving you with this challenge. Build incrementally even half of the value I created so far – I am leaving you with three times the funds I’ve utilized till date. I hereby resign as the Managing Director of BharatPe, effective immediately. I also resign as a Director of the Board. I will continue as the single largest individual shareholder of the Company. I have founded and built BharatPe into what it is today, and this identity, none of you can take away from me.”

As of August 2021, Ashneer Grover owned a 9.5% stake in BharatPe, and as per the company’s last fundraise, his stake was worth between ₹1,800 and ₹1,900 crore.

In a statement, BharatPe said Grover’s resignation came minutes after receiving the agenda for an upcoming board meeting “that included submission of the PwC report regarding his conduct and considering actions based on it”. It added that the board “reserves the right to take action based on the report’s findings”. The board had appointed PwC late last month to investigate aspects such as accounting, approval processes, expenses, and hirings.

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