EOW files FIR against Ashneer Grover and family for defrauding the fintech ₹81 crore
The Economic Offences Wing (EOW) filed a first information report (FIR) on Wednesday against Ashneer Grover, the former managing director of BharatPe, his wife Madhuri Jain Grover, and other family members, including Deepak Gupta, Suresh Jain, and Shwetank Jain. An FIR has been filed against the involved parties under eight sections of serious cognizable criminal offences, including 409 (criminal breach of trust by a public servant, banker, merchant, or agent), 420 (cheating and dishonestly inducing delivery of property), 467 (forgery of valuable security, will, etc.), and 120B (criminal conspiracy).
According to a company spokesperson. “The filing of the FIR is a step in the right direction because it reveals a number of suspicious transactions carried out by the family for personal gain.” This FIR will now allow law enforcement agencies to delve deeper into the criminality and bring the perpetrators to justice. We have complete faith in our country’s judicial and law enforcement systems and are confident that this case will be resolved logically. We will continue to offer the authorities our full cooperation. MZM legal is also advising us (BharatPe) on the criminal case, according to the spokesperson.
Previous allegation made against Ashneer Grover
In December 2022, BharatPe filed a lawsuit against the troubled entrepreneur and investor. It had filed a criminal case against him and his family members including wife, Madhuri Jain Grover for fraud, misappropriation of funds, criminal breach of trust, forgery, document fabrication, and embezzlement.” This apart, the company also accused the Grovers of creating false bills, enlisting fictitious vendors, and overcharging the company for recruitment. Grover, his wife, and his brother were sued for over Rs 88 crore in damages by the fintech unicorn.
