Last week, the embattled founder had tweeted on social media platform X (formerly Twitter) about the equity allocation and secondary components undertaken during the company’s Series E funding round, which was led by Tiger Global, and saw participation by Dragoneer Investor group and others.
The $370 million fundraise valued the payments and financial services fintech at $2.86 billion.
Grover has since deleted the tweet.
Also read | BharatPe vs Ashneer Grover saga: The story so far…
The matter, which was heard at the Delhi High Court on Friday, saw BharatPe’s counsel argue that Grover had violated his obligations under an employment agreement by putting out confidential information relating to the company.
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The company’s counsel also argued that Grover continues to hold confidential company information despite his resignation, and is in violation of the company’s employment agreement. Justice Sachin Dutta heard the plea.
Grover’s counsel submitted his apology for the conduct (tweeting confidential company information), which was accepted by the Court. The counsel also stated that his client required this information to defend himself against the various proceedings instituted against him.
The matter about Grover continuing to hold confidential company information will be taken up at the next hearing of the case.
BharatPe was represented by senior advocate Akhil Sibal and briefed by Trilegal’s Anuj Berry, while Grover was represented by senior advocate Giriraj Subramanium.
The fresh case is in addition to the civil suit filed by BharatPe’s parent at the Delhi High Court against Grover and his family members, seeking up to Rs 88.67 crore in damages for alleged embezzlement of funds.
Even in that case, the two parties have been at loggerheads over Grover’s social media activity, with BharatPe seeking an injunction citing the use of “unparliamentary language” by Grover against the company in his posts.
Also read | I’m not a flight risk, will cooperate with EOW: Ashneer Grover after being stopped at Delhi airport
Grover also appeared in front of Delhi Police’s Economic Offences Wing (EOW) earlier this week for questioning in the alleged fraud case. This happened after a status report from the EOW showed that at least eight human resource (HR) consultancy firms had links to relatives of Grover’s wife Madhuri Jain, who was formerly the head of controls at the fintech company.
Last week, Grover and his wife Jain were also stopped at Delhi’s Indira Gandhi International Airport, on the basis of a lookout circular (LoC) issued against them.
They were on their way to New York, people in the know told ET.
The LoC was issued against the couple at the request of the Delhi Police EOW, which is probing allegations of financial misconduct by the Grovers.