Ashneer Grover praises ‘legend’ Uday Kotak amid legal battle

Ashneer Grover has heaped praise on billionaire banker Uday Kotak at a time when the BharatPe cofounder is locked in a legal tussle with Kotak Mahindra Bank.

"Uday Kotak is a legend. I had the fortune of starting my career in Kotak — seven years — and can tell you no one understands or does finance better in India!" Grover said in a comment to a LinkedIn post by Radhika Bajoria, a communications professional. The post is a week old and Grover's comment was made four days ago.

The comment is significant as it comes weeks after it emerged that Grover and his wife Madhuri Jain sent a legal notice to Kotak Mahindra Bank on October 31, 2021, for failing to secure financing for Nykaa’s initial public offering (IPO). Kotak Mahindra Bank said it would take "appropriate legal action" against Grover for the inappropriate language he allegedly used against an employee of the lender. An audio clip of the conversation had surfaced just days earlier.


Grover is on a voluntary leave of absence until the end of March, as is his wife Madhuri Jain. On Saturday, BharatPe said that it had appointed Alvarez & Marsal to conduct an independent audit to bolster its internal processes and systems.