Koladiya vs Grover case: Delhi HC grants more time to Ashneer Grover to file response

The Delhi High Court on Thursday took on record the written statements submitted by the parties in the case filed by BharatPe's original cofounder Bhavik Koladiya against cofounder and former managing director Ashneer Grover, and granted more time to the defendants to file their responses.

Grover along with his wife Madhuri Jain, who was ousted from the startup last year, were also present at the court hearing on Thursday morning.

The defendants had filed condonation of delay applications, which was admitted by the court after no objection raised by the plaintiff's counsel.


During the last hearing on January 18, the high court had restricted Grover from creating any third-party rights or interest on shares 'transferred' to him by Koladiya.

Koladiya filed a suit to reclaim the disputed shares, saying Grover has not paid for the shares as per the agreement.

The case is being heard by a single-judge bench of Justice Prateek Jalan. The matter will be listed next on April 11 before the joint registrar and before the court on May 9.

ET exclusively reported on January 17 that Koladiya has filed a case against Grover, and was looking to reclaim his shares in the company.

Koladiya founded the fintech firm in 2017 with Shashvat Nakrani, his schoolteacher's son. In 2018, they began searching for a chief executive for the company and eventually joined hands with Grover.

Shortly thereafter Koladiya, who held a 30.21% stake in the company, had to exit the cap table owing to his past conviction for credit card fraud in the US, ET had earlier reported.

Grover has maintained that Koladiya had sold his shares to him and other buyers including Nakrani and early investors.

Grover had resigned from the company’s board of directors and his position as former managing director of the company in March last year.