BharatPe CEO says audit in process, urges employees to trust the board for future action

BharatPe chief’s missive to employees comes at a time when tensions between cofounder Ashneer Grover and the BharatPe’s board are mounting.

ET had reported last week that Grover
had written to BharatPe’s board asking to remove Sameer from the company’s board of directors indicating the growing chasm between the top management of the fintech company and its embattled cofounder.

Also Read:BharatPe’s Madhuri Jain may sue auditor over leaked report

“Let me talk about the elephant In the room first – the governance review being carried out by well-known and reputed external firms… Based on some internal complaints, we decided to do a full audit of our governance processes. While many of the findings of the review are pretty standard for a fast growth company of our size, there are a couple of more serious allegations, which the review is still substantiating,” said Sameer in the internal memo. “ This is nothing which can’t be corrected going forward, and none of it has any bearing on the medium to long term health of the business. We expect the review partners (consultants) to share an interim report with the board in a couple of weeks,” reassured Sameer to employees.

Sameer also called for employee trust, as the corporate battle between BharatPe’s board and cofounder Grover has left the staff with a sense of ‘uncertainty’ on the future prospects of the company. “ Meanwhile, I would just request all of you to keep your trust on the board of BharalPe, which comprises some of the best investors in the world, and veterans of the Indian banking Industry. Whatever the board decides will be beyond doubt, in the best interests of our employees, our merchants and our consumers.

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