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BharatPe: Governance Failure in a Start-up

內容大綱
In May 2022, BharatPe, a startup,announced a revamp of its governance framework to address any potential risks associated with suspicious transactions in response to a prolonged dispute with its Co-founder and former Managing Director (MD), Ashneer Grover. The company, in December 2022, filed a civil case at the Delhi High Court, and a criminal complaint with the Economic Offenses Wing alleging misappropriation of funds, embezzlement, and other misconduct. As the controversy unfolded, BharatPe's board, primarily comprised of multinational venture capital funds, came under scrutiny, with governance experts questioning their responsibilities and level of accountability. Did the board allow governance issues to persist for an extended period?
學習目標
This case can be used in both undergraduate- and graduate-level programs in corporate governance, entrepreneurship, and business ethics courses to discuss the governance challenges in startups and how they are different from those in publicly listed organizations, the roles and responsibilities of the board of directors, clawbacks in executive compensation, and the importance of an ethical framework for business decisions. The case is also suitable for use in management development programs and executive modules relating to corporate governance, entrepreneurship, and ethics for senior leaders.<br><br>After working through the case and assignment questions, students will be able to do the following:<br><br><ul><li>Understand the governance challenges that may arise in startups;</li><li>Understand how startup governance differs from a publicly listed company;</li><li>Appreciate the role of the board of directors in corporate governance;</li><li>Appreciate the role of institutional investors in improving the corporate governance standards for startups;</li><li>Recognize the importance of risk management and building an ethically strong organization</li></ul>
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