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Case
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Reference no. W34588
Subject category: Strategy and General Management
Authors: Arun Kumar Tripathy (Management Development Institute (MDI), Gurgaon); Nidhi S Bisht (Management Development Institute (MDI), Gurgaon)
Published by: Ivey Publishing
Originally published in: 2024
Version: 2024-03-21
Length: 8 pages
Data source: Published sources
Topics: Bharatpe; Start-up governance; Governance framework; Board accountability; Venture capital; Corporate governance; Governance challenges; Ethical organization; Risk management; Governance reform; Corporate misconduct; Multinational investors; Economic offences wing; Delhi High Court
Share a link: https://casecent.re/p/197887
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Abstract

In May 2022, BharatPe, a start-up, announced a revamp of its governance framework to address any potential risks associated with suspicious transactions in response to a prolonged dispute with its Co-founder and former Managing Director (MD), Ashneer Grover. The company, in December 2022, filed a civil case at the Delhi High Court, and a criminal complaint with the Economic Offenses Wing alleging misappropriation of funds, embezzlement, and other misconduct. As the controversy unfolded, BharatPe's board, primarily comprised of multinational venture capital funds, came under scrutiny, with governance experts questioning their responsibilities and level of accountability. Did the board allow governance issues to persist for an extended period?

Teaching and learning

This item is suitable for undergraduate and postgraduate courses.
Location:
India
Industry:
Finance and insurance
Size:
Large
Other setting(s):
2022
Teaching note
-
Reference no. W34589
Subject category: Strategy and General Management
Authors: Arun Kumar Tripathy (Management Development Institute (MDI), Gurgaon); Nidhi S Bisht (Management Development Institute (MDI), Gurgaon)
Published by: Ivey Publishing
Originally published in: 2024
Version: 2024-03-21
Length: 11 pages
Data source: Published sources
View full details

About

Abstract

In May 2022, BharatPe, a start-up, announced a revamp of its governance framework to address any potential risks associated with suspicious transactions in response to a prolonged dispute with its Co-founder and former Managing Director (MD), Ashneer Grover. The company, in December 2022, filed a civil case at the Delhi High Court, and a criminal complaint with the Economic Offenses Wing alleging misappropriation of funds, embezzlement, and other misconduct. As the controversy unfolded, BharatPe's board, primarily comprised of multinational venture capital funds, came under scrutiny, with governance experts questioning their responsibilities and level of accountability. Did the board allow governance issues to persist for an extended period?

Teaching and learning

This item is suitable for undergraduate and postgraduate courses.

Settings

Location:
India
Industry:
Finance and insurance
Size:
Large
Other setting(s):
2022

Related

Teaching note
-
Reference no. W34589
Subject category: Strategy and General Management
Authors: Arun Kumar Tripathy (Management Development Institute (MDI), Gurgaon); Nidhi S Bisht (Management Development Institute (MDI), Gurgaon)
Published by: Ivey Publishing
Originally published in: 2024
Version: 2024-03-21
Length: 11 pages
Data source: Published sources
View full details