BharatPe`s co-founder and MD Ashneer Grover and his wife Madhuri Grover sent a legal notice to Kotak Mahindra Bank`s managing director and chief executive officer Uday Kotak and to some of his senior management, accusing the bank of failing to secure financing and allocation of shares in an IPO launched by beauty firm Nykaa.

Besides Kotak, the notice was also addressed to Oisharya Das, CEO of Kotak Wealth Management, Shanti Ekambaram, Kotak Mahindra Bank`s Group President for Consumer Banking and KVS Manian, Corporate, Institutional and Investment Banking.