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Delhi High Court disposes of Shashvat Nakrani appeal against refusal to restrain Ashneer Grover from selling BharatPe shares

It was Nakrani’s case that he had transferred his shares to Grover and while the latter claimed to have paid for them in cash, the money was never received.

According to news reports, BharatPe was founded by Shashvat Nakrani and Bhavik Koladiya in March 2018, with each owning 50% in the firm. Grover joined the company as a third co-founder and board member in July 2018, and purchased 3,192 shares (2,447 from Nakrani and 745 from Koladiya for ₹10 apiece).

The same report claimed that Grover was to pay ₹24,470 to Nakrani and ₹7,450 to Koladiya. However, it claimed that Grover is yet to pay for the shares.

People familiar with the matter say that the shares in question are worth ₹500 crore now.

Source: Barandbench

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