BharatPe CEO Suhail Sameer resigns after dispute with Ashneer Grover

Suhail Sameer, chief executive officer of digital payments firm BharatPe, has resigned. BharatPe, which has been facing controversies for the past few months, has seen continuous exit of senior executives. A few months back, Sameer had a dispute with the firm’s co-founder Ashneer Grover.

BharatPe said in a statement, “Sameer’s role will be that of Strategic Advisor from January 7, instead of Chief Executive Officer.” The reason for Sameer’s resignation has not been given. The statement said, Company CFO Nalin Negi has been appointed as the interim CEO to further drive the business of BharatPe.” BharatPe said its board of directors has hired a leading executive search firm to help it find a CEO. Sameer was handling the responsibility of this fintech firm after Grover was removed from the firm.

Last month, three senior executives from the Sequoia-invested firm resigned. These include Chief Technology Officer Vijay Aggarwal, Head PostPe Nehul Malhotra and Chief Product Officer for Lending and Consumer Products Rajat Jain. Apart from this, the firm’s Vice President (Technology) Geetanshu Singla has also gone. Earlier, the firm’s Chief Revenue Officer Nishit Sharma and one of its founding members, Satyam Nathani, also left the firm.

The firm has filed a case against former managing director and co-founder Ashneer Grover and his family. Fraud And filed a criminal case on charges of embezzlement. The case, which alleges cheating of Rs 88.67 crore, states that Grover and his wife Madhuri Jain, besides other family members, generated fake bills and listed bogus vendors as providing services to the firm. This case has been filed in the Delhi High Court. The court had issued a notice to Grover’s family. The next hearing in this matter is to be held on January 9. Madhuri Jain held the position of control head in BharatPe and was fired from the firm early last year after a forensic audit revealed several irregularities.

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