Ashneer Grover case: Kotak Mahindra Bank pursuing appropriate legal action

The legal notice sent by Grover and the response of the private lender assumes significance after an audio recording was shared on social media platform Twitter

Private sector lender Kotak Mahindra Bank on Sunday said it is pursuing appropriate legal action in Ashneer Grover case. Grover is co-founder and managing director (MD) of Bharat Pe, who had sent a legal notice to the bank on October 30, 2021, for allegedly failing to provide initial public offering (IPO) financing in the IPO of FSN E-Commerce Ventures Ltd, or Nykaa, and to allocate its shares in the HNI/NII category.

The bank in a statement said, “The (legal) notice was received by us and was replied to appropriately at the time, including placing on record our objections to inappropriate