Governance Issues at BharatPe
| Case Code: BECG180 Case Length: 7 Pages Period: Pub Date: 2022 Teaching Note: Available |
Price: Rs.200 Organization: - Industry: - Countries: India Themes: Business Ethics, Corporate Governance,Ethical Leadership |
Abstract Case Intro 1 Case Intro 2 Excerpts
Excerpts
Governance Issues
In early January 2022, Grover was in the news after an audio clip of a phone call between him and an employee of Kotak Bank went viral. In the call, Grover was allegedly abusing the employee as he had failed to secure funds of Rs.5 billion to invest in the Nykaa IPO..
BharatPe - Work Culture
Some employees of BharatPe raised concerns about the toxic culture at the company. Grover’s presence in the global business reality show Shark Tank India attracted even more public scrutiny. On the reality show, Grover was seen as an excessively rude and harsh judge and his behavior raised concerns about the possibility of a toxic work culture at BharatPe..
Findings of Investigation Report
In its preliminary investigation report released on January 24, 2022, A&M found instances of fraudulent transactions, including payments to non-existent vendors, as well as irregularities in invoices being produced to substantiate spends...
Way Forward
The value of India’s digital lending market had grown from US$33 billion in the financial year 2015 to US$150 billion in the financial year 2020 and was projected to hit the US$350-billion mark by 2023 due to advancements in financial technologies and digital payments. The popularity of the Digital India campaign further increased the use of digital payment platforms among brick and mortar retailers, pushing up the growth prospects of the Indian FinTech transaction market..
Exhibits
Exhibit I: Lead investors of BharatPe
Exhibit II: Top Shareholders in BharatPe (As of August 18, 2021)
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