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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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Housing Society Secretary Stabbed Over Elevator Dispute Near Navi Mumbai

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Police arrest two men after an argument over a lift-related issue at a housing society turns violent.

The Case

The incident took place at Ashtavinayak Society in Adai village, Panvel taluka, around 11 pm on Tuesday. According to police, the dispute began over the society’s elevator repeatedly malfunctioning.

The victim, Vaibhav Ramchandra Patil, 43, was called to the ground floor by one of the accused, Vishwas Bhaskar Jadhav, 31, to discuss the lift problem. Jadhav was accompanied by Hrishikesh Suresh Satpute, 36. During the argument, Satpute allegedly attacked Patil with a knife, injuring his neck, chest, abdomen, back and thigh. Patil’s wife reportedly tried to intervene, but the accused allegedly pushed her away.

The entire incident was captured on CCTV cameras installed near the ground-floor elevator. Patil was admitted to Veer Hospital in New Panvel for treatment. Khandeshwar police arrested both accused and registered a case of attempted murder and other offences against them.

A Panvel court remanded the two men in police custody until October 9 for further investigation. The incident highlights how a dispute over a common housing society facility allegedly escalated into a violent attack.

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Nigerian National Arrested in Navi Mumbai with Drugs Worth Rs 3.57 Crore

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Police seize a large quantity of suspected narcotics during an operation in Navi Mumbai and launch further investigations into the case.

The Drugs

Navi Mumbai police arrested a Nigerian national, identified as Anyi Ikechukwu Darlington, from his rented apartment in Rohinjan village, Taloja, on Thursday night.

According to police, the Anti-Narcotics Cell carried out the raid after receiving specific information about drug-related activities. During the search, officers recovered 2.497 kg of mephedrone and 566 grams of cocaine, with an estimated market value of Rs 3.57 crore.

Police said the accused had previously been arrested in a separate narcotics case in Mumbai in 2019. He was released on bail in 2025. A case has been registered against him under the Narcotic Drugs and Psychotropic Substances (NDPS) Act at Taloja police station.

Investigators are now trying to trace the source of the seized drugs and determine whether other people were involved in the alleged drug distribution network. The investigation is ongoing.

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NMIMS Navi Mumbai Students Promote Mental Health Awareness Through Street Theatre

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Students use interactive games and creative performances to encourage open conversations about mental health and emotional well-being.

The Awareness

Students of NMIMS Navi Mumbai have taken an innovative approach to spreading mental health awareness through street theatre and interactive activities. The initiative aims to help people understand the importance of emotional well-being and encourage them to speak openly about mental health concerns.

The two-day Mental Health Awareness Week featured discussions on women’s physical and mental health, a student-led street play highlighting women’s safety and dignity, and activities designed to help participants understand human behaviour. A panel of experts discussed how social expectations, family environments, reproductive health and childhood experiences can affect women’s emotional well-being. They also stressed the importance of discussing women’s health without stigma or judgement.

Students took part in interactive activities focusing on memory, attention, decision-making and social behaviour. They also prepared posters explaining different psychological disorders to make information about mental health easier to understand. The street play highlighted how social inequalities and expectations can limit women’s freedom and choices. The event concluded with a karaoke session, giving students an opportunity to relax and interact with one another.

The initiative aimed to make conversations about mental health more open, reduce stigma and encourage students to understand the importance of emotional well-being.

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