New Delhi, Mar 13 (IANS): Fintech platform BharatPe on Monday said that there are no settlement talks going on between the company and its former founder and Managing Director Ashneer Grover.

BharatPe filed a fraud case against Grover and his family in Delhi High Court for allegedly siphoning off Rs 88.6 crore, which is currently ongoing.

In a statement to IANS, the company said that reports "suggesting any settlement between BharatPe and Mr Grover or his family are completely baseless and untrue".

BharatPe initiated legal proceedings against Grover and his family members by way of a civil suit at the Delhi High Court and criminal complaint with the Economic Offences Wing in December 2022 for fraud, misappropriation of funds, criminal breach of trust, forgery, document fabrication, and embezzlement.

"We have full faith in the country's judicial and legal systems," said BharatPe.

The Delhi High Court had earlier issued summons to Grover and his wife Madhuri Jain Grover on a suit filed by the company seeking to restrain them from making defamatory statements against the fintech firm, which has accused the couple of misappropriating funds.