A day after BharatPe co-founder Ashneer Grover sought
Inorder to remove CEO Suhail Sameer from the board, another founder of fintech startup, Shaswat Nagrani,
He threw his weight behind the CEO.
Sameer because the two founders must jointly agree to remove the CEO
Nagrani said he had not given any approval or request for such a dismissal and that the CEO would continue to enjoy his support.
Legal experts argue that the CEO cannot be removed from the board at the sole request of Ashneer Grover and that such removal can only be done by two co-founders.
If the CEO is a nominee for both founders, the attorneys also confirmed.
Unilateral withdrawal of a founder is not valid under the law.