BharatPe CEO Suhail Sameer: I did what was best for company
BharatPe CEO Suhail Sameer broke his silence over reports that he pushed out troubled co-founder Ashneer Grover, saying he did what was right for the company and investors, as well as to protect his name.
Grover was removed of all titles and duties at BharatPe, which allows shop owners to accept digital payments using QR codes, last month after a third-party audit found major governance violations under his leadership.
Grover had accused Sameer of siding with the investors to remove him from office after he was forced to go on leave in January following allegations of using abusive language against Kotak Mahindra Bank employees and of fraudulent practises. Grover had accused Sameer of siding with the investors to remove him from office.
In an interview with PTI, Sameer said, “I buy the majority of them (allegations).” “I did what I thought was best for the investors.” I did what was best for the company; after all, isn’t that why I’m here?” He described Ashneer as a “close personal buddy.”
“We were like really close,” he admitted. “However, my role here isn’t to be a fantastic friend.” My job is to do the right thing.” BharatPe hired a law firm and risk advice specialists to conduct a more thorough inquiry into the claims of financial irregularities under Grover.
BharatPe CEO Suhail Sameer Statement
BharatPe first fired Madhuri Jain, then Grover resigned and the company stripped him of his co-founder title and other titles for allegedly “extensive misappropriation of company funds” by “creating fake vendors” to syphon money and using “company expense accounts” to “enrich themselves and fund their lavish lifestyles.” “I have a tremendous reputation to live up to.” This is my final work, and I will not allow anything to tarnish my reputation. So I would do what is best for the company, what is best for our shareholders, even if it means going against one of us,” Sameer explained.
If his behaviour had been criticized, he claimed he could have walked away.
So I did what any CEO would do,” he explained. “Therefore, there is no question of making accusations or taking sides.” Grover allegedly said he was forced to take leave by Sameer and the company’s general counsel, Sumeet Singh.
Things were “turbulent,” according to Sameer.
About Ashneer Grover
For my general counsel, they were “much more tumultuous” (Singh). He (Singh) was a boyhood friend of Ashneer’s,” he explained. “We are the two persons who have been accused of everything. But we were only two people who had reserved a spot. Anyone on the governing council would have been subjected to the same accusations. We’re not taking it seriously. Hopefully, Ashneer and I will be friends again in a few years.” BharatPe‘s board of directors has received the final report.
The board may meet later this month to address it, but there is also a feeling that there is no need for further action now that Ashneer has submitted his papers, he said.
“The board has the last say.” It’s too soon for me to speak on behalf of the board (what it will do on the report). “Right now, the focus is on getting the business to develop (and making) employees happy,” he said.
He stated that all of the board members have received the reports and have gone over them. “At some point in the future, we’ll get together and figure out what we’re going to do with it.” Grover presently owns 9.5 percent of BharatPe, while Shashvat Nakrani controls the remaining 9.5 percent.
