In the midst of increasing concerns over governance, Fintech Bharatpe’s company announced on Saturday that an independent audit of its internal process and system was being carried out.
The development came just a few days after the founder of Asheer Grover took voluntary leave to march-end. Mr. Grover has made a decision to continue leave on December 19, after the audio clip has exposed the big battle between him and the Mahindra Bank box.
Meanwhile Grover’s wife, Madhuri Jain Grover – who also works with companies – overcome during leave, institutions report.
According to sources, Madhuri – who is the control head – has gone on leave, and with the company conducting an independent audit, there may be problems related to governance in Bharatpe which now may appear forward, according to agency reports. Bharatpe does not comment on Madhuri’s exit.
“The Bharatpe board is committed to the highest company governance standards in the company and conducts an independent audit of the company’s internal processes and systems,” said the company in a statement.
Bharatpe, through his law firm, Shardul Amarchand Mangaldas has appointed Alvarez and Marsal, a leading management consultant and risk advisory company to suggest the board on its recommendations, the next statement said.
“The council strongly believes in protecting the interests of all shareholders, including customers, employees and partners,” he added, while asking for the media to avoid speculation until the audit findings were completed.
According to Reuters, the audit will assess whether senior Bharatpe executives make the right internal disclosure of personal investment and examine conflict, which leads to a new code of ethics.
Bharatpe has been under investor and intense media supervision after the founder of Asheerer Grover looking for damage from Uday Box, Head of Mahindra Bank, accused that the bank refused financing for personal investment, Reuters reported.
The Mahindra Bank box in turn alleges that Mr Grover uses “violations” and threatens the language of its employees and has the right to take legal action in accordance with it, a legal document seen by Reuters shows.
The post Facing Governance Issues, BharatPe Orders Independent Internal Audit first appeared on Businessely.com.
