Lendingkart crisis deepens: Founder Harshvardhan Lunia goes legal against Fullerton-led management

Digital lending startup Lendingkart’s troubles are set to deepen as a legal dispute has erupted between cofounder Harshvardhan Lunia, Lendingkart Technologies, the fintech’s holding company, and Fullerton Financial Holdings, its majority shareholder, according to people aware of the matter.

Lunia, who founded the company with Mukul Sachan in 2014, filed a case with the Ahmedabad bench of the National Company Law Tribunal (NCLT) on November 19, alleging violations of the terms under which Fullerton gradually acquired a 56% stake in Lendingkart. He…