BharatPe Saga: 'Won't Create Third-party Interest In Shares', Ashneer Grover To Delhi HC
Former Founder of BharatPe, Bhavik Koladiya had filed a commercial suit in the Delhi High Court alleging breach of the share purchase and thus claiming title over 16110 Shares, which is approximately 3.10 per cent shareholding of BharatPe, according to media reports
In the latest development in the Ashneer Grover – BharatPe saga, ex-founder Bhavik Koladiya had filed a commercial suit in the Delhi High Court against Ashneer Grover alleging breach of the share purchase agreement dated 03 December 2018 and thus claiming title over 16110 Shares, which is approximately 3.10% shareholding of BharatPe. Currently, these shares are worth over INR 1000 Crores in value, according to media reports
Hon’ble Justice Prateek Jalan concluded the hearing, directing Mr. Ashneer Grover not to assign any 3rd party rights on the 16,110 shares in question and any derivative rights thereof.
Mr. Bhavik Koladiya was represented by Mukul Rohatgi, Senior Counsel, Gaurav Pachnanda Senior Counsel, Akhil Sibal, Senior Counsel who were briefed by Sidhant Goel, Mohit Goel Deepankar Mishra and Karmanya Sharma from Sim and San – Attorneys at Law.
During a conversation with Lex Witness – India’s 1st Magazine on Legal & Corporate Affairs, Sidhant Goel, Partner, Sim and San, Attorneys at Law said the “a party which does not perform an essential condition of a contract is expected to suffer its consequences. The matter is now sub judice and we have nothing more to add.”
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