bharatepe vs ashneer, BharatPe paid Rs 1.69 crore to Ashneer Grover, Rs 63 lakh to his wife, but why? – bharatpe paid rs 1.69 crore salary to ashneer, rs 63 lakh to his wife
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Bharat Pay paid a salary of Rs 1.69 crore to the company’s co-founder and managing director Ashneer Grover in FY22, while his wife Madhuri Jain Grover, who was the former controlling head at the company, took home a salary of Rs 63 lakh. At present, Ashneer is fighting a legal battle in a case of misappropriation of company funds to the tune of Rs 88.6 crore. According to the financial statement filed with the Registrar of Companies, its former CEO Suhail Sameer took Rs 2.1 crore in the year 2022.
Bharat Pay chairman Rajnish Kumar got Rs 21.4 lakh, while board member Shashwat Nakrani was paid Rs 29.8 lakh. Money Control had first reported about the remuneration to top executives of Bharat Pay. Meanwhile, Bharat Pay incurred a huge loss of Rs 5,610.7 crore in the financial year 2021-22. In the year 2021, the company had reported a net loss of Rs 1,619.2 crore.
Earlier this month the company had clarified that the item related to CCPS is one-off and will not happen from next year, as we have now reclassified compulsorily convertible preference shares from liability to equity. Meanwhile, its revenue from operations grew 3.8 times to Rs 456.8 crore in FY11, owing to a rise in disbursement volumes on loan disbursements.
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