BharatPe board accepts Madhuri Jain’s resignation that she never sent: Report

BharatPe’s tryst with controversy doesn’t seem to have an end in sight. The company’s head of controls and wife of co-founder Ashneer Grover has made a statement saying the BharatPe board has accepted her resignation that she didn’t even send. The new development was found via a leaked document that Jain has sent to the company board.

A report by ET Tech claims that they managed to get a copy of the mail sent by Madhuri Jain to the board of BharatPe. The report also mentions BharatPe’s reply to the accusations of accepting the resignation. The board claimed that they never sought for a resignation from Madhuri Jain. She was only sent on compulsory leave on January 20.

Jain in her communication to the board said that she had no idea about the alleged resignation. She outright denied that she had ever put forward her resignation. She claimed that the resignation was accepted on the account that she was Ashneer Grover’s wife. Clarifying her stance on the entire idea of resigning, the reported communication claims that she would only want to resign after being exonerated in the ongoing review.

Apparently, there was some confusion in the communication that eventually led to the claim of Jain’s resignation. The report suggests that Ashneer Grover was the one to offer her resignation to the board at a meeting on January 19. The report suggests that these events were also logged in the minutes of the board meeting.

The report suggests that the move of offering Jain’s resignation was spontaneous, according to Grover. The sources mentioned by the report claim that the board members were not in agreement about the resignation.

This entire episode comes days after Jain wrote to Alvarez & Marsal (A&M) about the leaked reports about the initial findings. The findings were released way ahead of any final verdict. In the finding by the initial investigation, inconsistencies were found with vendors and hiring operations.

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