The lawyers of BharatPe founder, Ashneer Grover will invoke arbitration and will be sending a notice to the company very soon, challenging their decision to conduct a governance review and making claims for an exit, said sources.
The news: “The agreement says you can’t go to a civil suit and only file an arbitration. If the company agrees then they will mutually appoint an arbitrator. If not then the plan is to go to the High Court seeking the appointment of an arbitrator,” said one of the sources.
- It is said that the lawyers have already filed an emergency arbitration plea in the Singapore International Arbitration Centre (SIAC).
- Grover is being advised by senior lawyer Ritin Rai besides two law firms – Karanjawala and Meraki Law.
- “Karanjawala is trying very hard to invalidate this whole exercise (governance review),” the source added.
- Grover will file an arbitration plea in the Singapore International Arbitration Centre (SIAC) following a long battle between him and the board and shareholders to keep his 9.5 per cent shareholding intact in Bharat Pe.