Former BharatPe Managing Director (MD) Ashneer Grover took a dig at his old company hours after Delhi Police’s EOW (Economic Offices Wing) registered an FIR against him. 

In a LinkedIn post, the former shark of the entrepreneurship-driven reality show Shark  Tank India season one, wrote that BharatPe has no business left and will end up in a situation like Silicon Valley Bank (SVB). 

“BharatPe will shut down / sold in fire sale overnight like SVB. People who have been asking me whether they should keep money in the 12% Club - don’t take that risk anymore. I know they’ve sold their loan book worth Rs100s of crore to ARCs for pennies - booking huge losses. The only business anyone should do with BharatPe is take a loan from them,” he wrote. 

In an interaction with the Times of India (TOI), Grover told “I have been co­operating so far and I will co­operate even now. In fact, I am happy. Now, the court will decide. I am very clear. I am in the right and, therefore, I am afraid of nothing.”

"Before it’s a written­off business with $3 billion written off their valuation, their only mission in life is to keep fighting these frivolous, nonexistential cases against Ashneer… this is all the management led by Rajnish Kumar and Sumeet Singh has to show in terms of work. It’s a failed fintech firm run by Rajnish Kumar, who has destroyed $8 billion of value already when he was the chairman of SBI and now he has destroyed $3 billion of value at BharatPe. That’s it,” he added. 

Yesterday, the EOW wing registered an FIR against Ashneer and his family based on some complaints lodged by the fintech company. Last December, the company accused Grover and his wife Madhuri Jain Grover of making fraud of Rs 81 crore. It also filed a lawsuit against him.