Ashneer Grover of BharatPe Faces Criminal Proceedings: The fintech giant, BharatPe has filed a suit against Ashneer Grover, his wife Madhuri Jain Grover, and their two children for inappropriate usage of company funds and other offenses. The company claims that Grover, Mrs. Grover, and some of their family members stole hundreds and thousands of Rupees from the firm to maintain their opulent lives.
BharatPe, a fintech start-up which empowers business owners to accept payments digitally through QR codes, has alleged that Ashneer Grover and his family members have used company funds for personal payments such as business class air fare, international holidays, housekeeping, rent, skincare products, electronic items and other personal things.
Ashneer Grover and Madhuri Jain Grover, the company's former co-founders, are being sued for criminal violations. The company has confirmed that BharatPe has pressed civil and criminal charges against Managing Director and Ex Co-Founder, Mr. Ashneer Grover, his wife and Ex-Head of Controls, Mrs. Madhuri Jain Grover, and other members of their family, for misuse of corporate money. Considering that the case is still pending in court, a representative for the corporation refused to comment while stating that they have full faith in our judicial system and that a just decision will be taken in their favor.
The firm has also booked cases with the Delhi Police against some of Grover’s family members along with Suresh Jain, Deepak Gupta, and Shwetank Jain.
BharatPe was founded in 2018 by Shashvat Nakrani and Ashneer Grover. However, Shashvat Nakrani left the board at the start of the year because of other events. Madhuri Jain Grover was the first to be laid off against alleged misuse of company money. Soon after this, Ashneer Grover resigned from BharatPe as the company claimed that he had exploited corporate funds to drain money by creating clients, vendors, and recruitment services that did not exist. Moreover, the company has removed Grover’s name from the list of co-founders. Meanwhile, the firm has quoted that the Grovers used the company’s expenditure accounts to support their posh lifestyle.
The company has asked the Grovers to pay a renumeration of more than Rs. 88.67 crore to settle the claim. The company has also petitioned the court for a temporary injunction leading to complete disclosure of all the assets owned by the Grovers. This also includes preventing Grover and his family from posting any defamatory posts on social media and disabling them from contacting any media outlets to have any unfavourable coverage of the company removed or erased from the record.
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The firm had earlier said that the Grover and his kin participated in widespread theft of corporate finances which included creating bogus suppliers through which they drained money from the company's reserves and extremely misused the company’s funds.
As charges of financial misconduct surfaced during Madhuri Jain's tenure as the Controls Head at BharatPe, she was eventually forced to leave her post. But rather than risk that Grover opted to leave the company.
BharatPe, a fintech start-up which empowers business owners to accept payments digitally through QR codes, has alleged that Ashneer Grover and his family members have used company funds for personal payments such as business class air fare, international holidays, housekeeping, rent, skincare products, electronic items and other personal things.
Ashneer Grover and Madhuri Jain Grover, the company's former co-founders, are being sued for criminal violations. The company has confirmed that BharatPe has pressed civil and criminal charges against Managing Director and Ex Co-Founder, Mr. Ashneer Grover, his wife and Ex-Head of Controls, Mrs. Madhuri Jain Grover, and other members of their family, for misuse of corporate money. Considering that the case is still pending in court, a representative for the corporation refused to comment while stating that they have full faith in our judicial system and that a just decision will be taken in their favor.
The firm has also booked cases with the Delhi Police against some of Grover’s family members along with Suresh Jain, Deepak Gupta, and Shwetank Jain.
BharatPe was founded in 2018 by Shashvat Nakrani and Ashneer Grover. However, Shashvat Nakrani left the board at the start of the year because of other events. Madhuri Jain Grover was the first to be laid off against alleged misuse of company money. Soon after this, Ashneer Grover resigned from BharatPe as the company claimed that he had exploited corporate funds to drain money by creating clients, vendors, and recruitment services that did not exist. Moreover, the company has removed Grover’s name from the list of co-founders. Meanwhile, the firm has quoted that the Grovers used the company’s expenditure accounts to support their posh lifestyle.
The company has asked the Grovers to pay a renumeration of more than Rs. 88.67 crore to settle the claim. The company has also petitioned the court for a temporary injunction leading to complete disclosure of all the assets owned by the Grovers. This also includes preventing Grover and his family from posting any defamatory posts on social media and disabling them from contacting any media outlets to have any unfavourable coverage of the company removed or erased from the record.
Read More News
The firm had earlier said that the Grover and his kin participated in widespread theft of corporate finances which included creating bogus suppliers through which they drained money from the company's reserves and extremely misused the company’s funds.
As charges of financial misconduct surfaced during Madhuri Jain's tenure as the Controls Head at BharatPe, she was eventually forced to leave her post. But rather than risk that Grover opted to leave the company.
