Koladiya founded the fintech firm in 2017 with Shashvat Nakrani. In 2018, they started looking for a chief executive, after which Grover came on board.
According to a news report in The Economic Times, Koladiya (the largest shareholder in the company) had to leave the company, allegedly because his past conviction in the United States in a credit card fraud case was hindering talks with investors.
The same ET report said that when he resigned, Koladiya transferred his shares to Grover, Nakrani and one Mansukhbhai Mohanbhai Nakrani, as well as some other early-stage and angel investors.
It was argued before the Court that between February and early March 2022, Grover started claiming property in the 16,110 shares by publicly proclaiming himself to be the single largest shareholder of BharatPe.
Koladiya said that Grover refused to return his shares when requested, prompting him to move the High Court for relief.
Source: Barandbench
