BharatPe CEO Suhail Sameer, who had fallen out with Ashneer Grover, steps down

News Network
January 3, 2023

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BharatPe CEO Suhail Sameer, who had fallen out with former co-founder Ashneer Grover, has quit. In a statement, BharatPe said he will transition from Chief Executive Officer to Strategic Advisor effective January 7, 2023.

"This will ensure a smooth transition for current CFO, Nalin Negi who has been appointed interim CEO to partner with senior executives to bolster execution in all phases of the company's business."

A leadership transition is being planned at the firm, and an announcement in this regard will likely be made later this month.

Sameer’s departure will be the latest in a slew of recent top-level exits at the Tiger Global investee firm. Last month, three senior executives—chief technology officer Vijay Aggarwal, PostPe head Nehul Malhotra, and Rajat Jain, chief product officer for lending and consumer products—resigned from the company.

Nishit Sharma, the company’s chief revenue officer, left the company in June. Satyam Nathani, one of BharatPe’s founding members, also left to pursue his entrepreneurial ambitions in the same month.

 In the last week of June, Bhavik Koladiya, who ran the fintech firm’s technology and product divisions, stepped down in a move that has proved to be among the most consequential departures. Koladiya and Shashvat Nakrani founded BharatPe in July 2017, although the firm wasn’t incorporated till March 2018. Grover joined the company in June 2018.

Sameer has, in recent weeks, come in for personal attacks by Grover, who has responded to civil and criminal suits alleging fraud, filed by BharatPe, by unleashing a fusillade of disparaging tweets about erstwhile BharatPe colleagues.

Two people familiar with the board’s thinking said in December that the board has been scouting for a CEO and was keen to replace Sameer.

Sameer, who was previously CEO of the FMCG business at RP-Sanjiv Goenka Group, joined BharatPe in August 2020 as president. When Grover’s focus shifted to getting a banking licence through the acquisition of PMC Bank and fund-raising, all top leaders at the firm were asked to report to Sameer. He also started managing day-to-day activities. In August 2021, Sameer was formally made the CEO of BharatPe.

BharatPe denied the development. “Suhail continues to be the CEO of BharatPe, and we would not like to further comment on any market speculation," a company spokesperson said.

Sameer separately responded to a Mint query over text message: “I haven’t resigned. Rumour."

In the past few months, most exits have occurred from BharatPe’s product and technology teams, which could impact the operations of Unity Small Finance Bank, which relies heavily on BharatPe for its technology capabilities. The bank is a joint venture between BharatPe and Centrum and was granted a banking licence in October 2021.

The exits also come at a time when the firm is trying to put the negative publicity around the alleged financial fraud perpetrated by Grover behind it and transform itself into a professionally run firm. The company, which is focused on achieving profitability, is also preparing itself for an IPO in 18-24 months.

The company joined the unicorn club after raising $370 million from Tiger Global in August 2021. Former SBI chairman Rajnish Kumar was appointed as chairman of BharatPe in October 2021.
 

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News Network
November 12,2024

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Mysuru, Nov 12: Zameer Ahmad Khan, the Tourism and Waqf minister of Karnataka, who stirred a controversy by addressing the Union Minister HD Kumaraswamy as ‘Kaala Kumaraswamy’ has tendered apologies for his remarks.

Speaking to reporters in Mysuru on Tuesday, Minister Zameer stated that he will apologise if remarks have hurt JD-S workers.

“We both are very close. Then, in a total of 24 hours, we were together for 14 hours. He used to fondly address me as “kulla” (shorty) and I used to address him as “kariyanna” (blacky, kaalia),” Minister Zameer stated.

“I am not addressing him as ‘kaalia’ for the first time. I have not said something highly derogatory. It is being made as big in the backdrop of elections. With love, he used to call me a shorty and I called him a blacky. If I had caused pain to anyone by my words I apologise,” he said.

He further stated: “Kumaraswamy had said that he didn’t want the votes of the Muslim community. But now they are attempting to purchase Muslim votes. Against this backdrop, I have made the remark.”

Minister for Home G. Parameshwara stated on Tuesday, “Minister Zameer and Kumaraswamy are close friends. Their comments against each other are not significant.”

Zameer Ahmad Khan, the Tourism and Waqf minister of Karnataka stirred a controversy on Monday as he addressed the Union Minister as ‘Kaala Kumaraswamy’.

JD-S on Tuesday demanded a public apology and resignation of Minister for Waqf and Tourism Zameer Ahmad Khan over his ‘racist’ remarks.

“Remember, there is no place here for your divisive policies. You have insulted the people by making ethnic, racist and discriminatory statements. You should apologize to the people of the state and resign,” the JD (S) demanded in the post.

Union Parliamentary Affairs and Minister for Minority Affairs Kiren Rijiju reacted sternly to the racist jibe and stated, “I strongly deplore Congress Minister Zameer Ahmed calling Union Minister and former Chief Minister of Karnataka Kumaraswamy as 'Kaalia Kumaraswamy'.

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News Network
November 21,2024

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The International Criminal Court (ICC) has issued arrest warrants for Israeli prime minister Benjamin Netanyahu and his former minister of military affairs Yoav Gallant over war crimes against Palestinians in the Gaza Strip.

The court’s Pre-Trial Chamber I issued warrants of arrest for Netanyahu and Gallant "for crimes against humanity and war crimes committed from at least 8 October 2023 until at least 20 May 2024, the day the Prosecution filed the applications for warrants of arrest”, it confirmed in a statement Thursday.

It is the first instance in the court's 22-year history it has issued arrest warrants for Western-allied senior officials.

In its statement, the ICC's Pre-Trial Chamber I, a panel of three judges, said it has rejected appeals by Israel challenging its jurisdiction. 

The chamber said it has decided to release the arrest warrants because "conduct similar to that addressed in the warrant of arrest appears to be ongoing", referring to Israel's ongoing onslaught on Gaza.

Netanyahu and Gallant, it said, “each bear criminal responsibility” for “the war crime of starvation as a method of warfare; and the crimes against humanity of murder, persecution, and other inhumane acts,” as well as “intentionally directing an attack against the civilian population.”

All 124 states that signed the Rome Statute, the treaty that established the court, are now under an obligation to arrest the wanted individuals and hand them over to the ICC in the Hague. 

The court relies on the cooperation of member states to arrest and surrender suspects. The Netherlands' foreign minister quickly said his country was prepared to enforce the warrants while 93 nations earlier reiterated their support for the ICC.

Triestino Mariniello, a lawyer representing Palestinian victims at the ICC, called the warrants "a historic decision".

He noted that the court had endured "pressure and threats of sanctions" from the US government, but acted nonetheless.

As expected, the Tel Aviv regime rejected the rulings, with its security minister Itamar Ben Gvir calling the warrants “anti-Semitic through and through.”

The ICC said Israel’s acceptance of the court’s jurisdiction was not required.

Israel and its major ally, the United States, are not members of the court. 

Israel unleashed its bloody Gaza onslaught on October 7, 2023. So far, it has killed at least 43,985 Palestinians, mostly women and children, and injured 104,092 others, according to the Gaza Health Ministry.

Israel faces an ongoing South Africa-led genocide case at the International Court of Justice (ICJ).

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News Network
November 22,2024

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Bengaluru, Nov 22: For the second day running, the Karnataka BJP on Friday staged a statewide protest condemning the government’s alleged move to notify land of farmers as Waqf property.

The BJP staged a protest before the offices of Deputy Commissioners at district headquarters.

The BJP leaders are vehemently demanding that the state government cancel a 1974 Gazette notification in this regard.

The agitators are also demanding scrapping of the Waqf Board and the resignation of Chief Minister Siddaramaiah and Minister for Waqf and Housing Zameer Ahmad Khan.

The BJP MLAs, MLCs, MPs gathered in the premises of Freedom Park and staged a protest under the leadership of Leader of Opposition R. Ashoka and slammed the state government.

MLA T.S. Srivatsa led the protest in Mysuru and hundreds of party workers and farmers staged the protest under the leadership of former MP Pratap Simha in Kodagu.

Former MP Sumalatha Ambareesh led the agitation in Mandya.

This was the first time that Sumalatha took part in the party’s programme after the Lok Sabha elections.

State President B.Y. Vijayendra claimed, “The Congress government in Karnataka is issuing notices to farmers claiming the ownership of their lands to the Waqf Board and pushing them on the streets overnight.”

In the first week of December, three teams formed by the BJP will travel across the state and record the grievances of farmers.

“The state government is attempting to snatch away the lands belonging to temples as well,” Vijayendra alleged and added that the teams would comprise all senior leaders of the BJP.

Meanwhile, the police have taken Sri Ram Sena chief Pramod Muthalik into custody while staging a protest march to the office of Zameer Ahmad Khan in Bengaluru.

Muthalik along with Hindutva activists was planning to lay siege to Zameer’s office over the Waqf row.

The police stopped Muthalik and requested him to submit the memorandum by reaching the minister’s office in a vehicle. However, Muthalik refused to go with the police and continued his footmarch. The police took him into custody following arguments.

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