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 30,2025

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Mangaluru, Nov 30: A 22-year-old college student succumbed to her injuries at a private hospital in Mangaluru today, days after she was hit by a goods tempo while crossing a road in Padubidri.

The deceased has been identified as Preksha, a resident of Nadsalu Billitota in Padubidri. The fatal incident occurred as Preksha, who was returning home after completing her examination, attempted to cross the service road towards Mangaluru. She was struck by a goods tempo approaching from the Udupi side, causing her to fall and sustain a severe head injury.

Prompt action from local residents ensured she received immediate first aid before being rushed to a hospital in Mangaluru for specialised treatment. Despite medical efforts, she passed away while undergoing care.

Preksha was a student at Karavali College, Vamanjoor on the outskirts of Mangaluru city. The tragedy is compounded by the fact that she belonged to a financially vulnerable family, having previously lost her father. She is survived by her mother and brother.

A case related to the accident has been registered at the Padubidri police station, and an investigation is underway to determine the exact circumstances that led to the collision. The incident highlights the growing concerns over road safety, particularly on busy service roads, and serves as a tragic reminder of the human cost of traffic accidents.

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News Network
December 5,2025

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New Delhi, Dec 5: IndiGo CEO Pieter Elbers issued a public apology this evening after more than a thousand flights were cancelled today, making it the "most severely impacted day" in terms of cancellations. The biggest airline of the country cancelled "more than half" of its daily number of flights on Friday, said Elbers. He also said that even though the crisis will persist on Saturday, the airline anticipates fewer than 1,000 flight cancellations.

"Full normalisation is expected between December 10 and 15, though IndiGo cautions that recovery will take time due to the scale of operations," the IndiGo CEO said. 

IndiGo operates around 2,300 domestic and international flights daily.

Pieter Elbers, while apologising for the major inconvenience due to delays and cancellations, said the situation is a result of various causes.

The crisis at IndiGo stems from new regulations that boost pilots' weekly rest requirements by 12 hours to 48 and allow only two night-time landings per week, down from six. IndiGo has attributed the mass cancellations to "misjudgment and planning gaps".

Elbers also listed three lines of action that the airline will adopt to address the issue.

"Firstly, customer communication and addressing your needs, for this, messages have been sent on social media. And just now, a more detailed communication with information, refunds, cancellations and other customer support measures was sent," he said.

The airline has also stepped up its call centre capacity.

"Secondly, due to yesterday's situation, we had customers stranded mostly at the nation's largest airports. Our focus was for all of them to be able to travel today itself, which will be achieved. For this, we also ask customers whose flights are cancelled not to come to the airports as notifications are sent," the CEO said.

"Thirdly, cancellations were made for today to align our crew and planes to be where they need to start tomorrow morning afresh. Earlier measures of the last few days, regrettable, have proven not to be enough, but we have decided today to reboot all our systems and schedules, resulting in the highest numbers of cancellations so far, but imperative for progressive improvements starting from tomorrow," he added.

As airports witnessed chaotic scenes, the Directorate General of Civil Aviation (DGCA) stepped in to grant IndiGo a temporary exemption from stricter night duty rules for pilots. It also allowed substitution of leaves with a weekly rest period. 

Civil Aviation Minister Ram Mohan Naidu has said a high-level inquiry will be ordered and accountability will be fixed.

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News Network
November 21,2025

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An Indian Air Force (IAF) Tejas fighter jet crashed on Friday, November 21, afternoon during its aerial demonstration at the Dubai Air Show, plunging to the ground at around 2:10 pm local time while performing a manoeuvre before thousands of spectators.

The IAF confirmed the incident, stating that a Tejas aircraft participating in the show had crashed and that further details were being gathered. An Air Force spokesperson said more information would be shared after initial assessments.

The crash sent thick black smoke billowing into the sky near the airport, causing panic among visitors, including families and children who had gathered to watch the display. Authorities have not yet confirmed whether the pilot managed to eject before the aircraft went down. Emergency response teams rushed to the scene, and officials have not released information on casualties or damage so far.

The Tejas is a 4.5-generation, multi-role fighter aircraft developed indigenously by Hindustan Aeronautics Limited (HAL). Designed for versatility, it is capable of offensive air support, close combat, ground attack missions and maritime operations. The aircraft family includes single-seat fighters and twin-seat trainers for both the Air Force and Navy.

HAL describes the latest version, the LCA Mk1A, as the most advanced in the series, featuring an AESA radar, an upgraded electronic warfare suite with radar-warning and self-protection jamming, smart multifunction displays, a digital map generator, a combined interrogator–transponder system and a modern radio altimeter. These enhancements significantly improve the aircraft’s combat capability and survivability.

Further updates from IAF and UAE authorities are awaited.

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