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Rs 100 crore lost by Ashneer Grover in stock market speculation

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The newest argument in the boardroom is between Bhavik Koladiya and Ashneer Grover about Koladiya’s ownership in the firm. This is a problem for BharatPe’s shareholders to resolve, as the company’s board of directors is unlikely to interfere.

Koladiya is reported to have divided his holdings between Ashneer and another co-founder, Shashvat Nakrani, according to individuals close to the situation. Koladiya had a 30% share in the firm until around 2018, however, this was decreased when the fintech company got further money.

Sequoia Capital, which owns roughly 19.6% of the firm, Coatue, which owns 12.4%, Ribbit Capital, which owns 11%, and Beenext, which owns 9.6%, are among the company’s major investors.

Koladiya’s Stake: An Intriguing Case

“When Sequoia Capital came up, Koladiya’s stock was divided amongst the other two founders to keep him off the cap table.” “There was also an email chat about it,” a source close to the situation told ET, adding that an agreement between the two is possible.

Meanwhile, Koladiya is seeking legal advice on the situation, since his and Grover’s relationship has deteriorated, as evidenced by a leaked phone call between the two.

“With the way things went in the last week or two, there will be further friction over Koladiya’s position in the company and earlier agreements.” Koladiya would be roughly 4% of Grover’s existing 8.5-9.5 percent shareholding. “Koladiya and Nakrani have a similar deal,” the source told ET.

Koladiya’s LinkedIn page now lists him as BharatPe, with no formal title.

Koladiya was found guilty of credit card fraud in the United States in 2015. District Judge Mark Hornak of Monroeville, Pennsylvania, punished Bhavikkumar H. Koladiya, alias “Bob Patel,” according to the US Department of Justice.

Koladiya, the owner of Oakland’s “Atwood Xpress,” stole other people’s identities and used them to create credit card accounts with US Bank, Chase Bank, Discover Card, and other companies, then used the stolen credit cards to buy products, including diamonds.

Finally, Ashneer and Nakrani received his BharatPe share. According to reports, Ashneer owns 8.5 percent of the corporation, while Koladiya owns about 4%. Koladiya and Nakrani had the same understanding.

What was the significance of the Koladiya Angle? Limelight is waiting for you!

Grover and Koladiya’s conflict initially surfaced when Grover wrote to BharatPe’s Board of Directors on February 22, notifying them of his phone conversation with Koladiya. Grover said in the letter that he had received calls from Koladiya for a prospective meeting in the presence of board chairman Rajnish Kumar.

Koladiya became involved in the Ashneer-BharatPe drama after Ashneer’s wife Madhuri Jain Grover, a former head of controls at BharatPe who was also fired for financial fraud, intensified the dispute on social media. Suhail Sameer, CEO of BharatPe, and Koladiya were seen in a video clip she released on Twitter at an office party. Jain, on the other hand, eventually removed her tweet from Twitter.

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Pothole-Ridden Hamrapur-Pen Road Worries Ganesh Idol Makers Ahead of Festival

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Local residents seek urgent repairs as damaged stretch could make idol transportation risky

The Potholes

With Ganeshotsav approaching, the poor condition of the Hamrapur-Pen road has become a growing concern for Ganesh idol makers and local residents. The road, an important route connecting Uran and Pen, is dotted with potholes, making travel difficult and raising questions over the safe transportation of idols.

During the festival season, hundreds of Ganesh idols are transported through this route. Idol makers fear that the uneven and damaged road could cause vehicles carrying large idols to lose balance, potentially damaging the idols or leading to accidents.

For those working hard to prepare the idols ahead of the festival, even a small mishap during transportation can result in significant losses. Residents say the problem is also affecting everyday commuters, with motorists being forced to slow down or manoeuvre around potholes.

Traffic on the route is expected to increase during Ganeshotsav, making timely repairs even more important. Local residents and Ganesh idol makers have therefore urged the concerned authorities to fill the potholes and repair the damaged sections before the festival. They have appealed for the work to be completed on priority so that Ganesh idols can reach their destinations safely and devotees can celebrate the festival without unnecessary disruption.

Residents hope the authorities will act before the festive rush begins rather than wait until the damaged road becomes a bigger safety concern.

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NMMC Takes Dengue, Malaria Awareness Drive to Mosques

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Health officials use Eid-e-Milad gatherings to spread awareness about mosquito-borne diseases.

The Drive

With dengue and malaria cases a seasonal concern during the monsoon, the Navi Mumbai Municipal Corporation (NMMC) took its awareness campaign directly to the community by organizing sessions at six mosques during Eid-e-Milad.

The initiative by the NMMC Health Department aimed to educate residents about mosquito-borne diseases, their warning signs and simple steps that can help prevent infections. Around 2,443 people attended the awareness sessions, while blood samples of 91 individuals were collected for testing.

Health officials explained that mosquitoes often breed in stagnant water found in discarded tyres, containers, scrap materials and plastic sheets. Residents were urged to keep water tanks and household containers covered, clean them regularly and remove anything around their homes that could collect rainwater. To make the sessions more practical, officials also showed residents larvae of Aedes and Anopheles mosquitoes, helping them understand how mosquito breeding can be identified and stopped.

The civic body said fogging and insecticide spraying are also being carried out in different parts of Navi Mumbai as part of its preventive measures. Officials appealed to residents not to ignore prolonged fever or other symptoms and to seek medical advice promptly.

Mayor Sujata Suraj Patil and Municipal Commissioner Dr Kailas Shinde urged citizens to work with the civic administration and maintain cleanliness in their homes and neighbourhoods to help keep Navi Mumbai safe from dengue and malaria.

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Navi Mumbai Gears Up for Safe and Eco-Friendly Ganeshotsav 2026

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Green corridors, tighter safety measures and a new initiative to promote smaller idols announced.

The Ganeshotsav

Navi Mumbai is preparing for Ganeshotsav 2026, which will be celebrated from September 14 to 25, with the civic administration stepping up arrangements to ensure a safe, smooth and environmentally responsible festival.

A pre-planning meeting was held at the Navi Mumbai Municipal Corporation (NMMC) headquarters under the chairpersonship of Mayor Sujata Suraj Patil. NMMC Commissioner Dr Kailash Shinde, senior police and civic officials, and representatives of Ganesh mandals attended the meeting. With large crowds expected during idol immersions, dedicated green corridors will be created along immersion routes to allow ambulances and fire engines to move without delay. Fire safety NOCs will be mandatory for Ganesh mandals, while volunteers will also be trained to operate fire extinguishers.

The administration will focus on women’s safety, traffic management and timely traffic advisories. Alternative routes will be used where necessary to ease congestion. Environmental concerns will also remain a priority. Authorities will strictly enforce noise pollution norms and encourage citizens to use artificial immersion ponds.

Mayor Patil also directed officials to repair potholes, trim tree branches obstructing immersion routes and ensure that streetlights at roads and immersion ghats are fully functional. CCTV cameras, medical teams and adequate manpower will be deployed at immersion sites. In a special initiative, the Mayor announced that from next year, mandals installing smaller idols will be honoured with a “Small Idol, Great Devotion” award, encouraging devotees to celebrate Ganeshotsav with faith rather than competing over idol size.

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