BharatPe founder Ashneer Grover and his wife Madhuri Jain were stopped at the Indira Gandhi International Airport. Confirming the news, the former BharatPe MD took to X (formerly Twitter) to talk about the incident that happened on Thursday night. Grover and his wife were travelling to New York when the couple was stopped by the immigration officials. “I found it strange (being stopped at the airport) as have travelled 4 times internationally since FIR filed in May – never been a problem and I had not even been summoned once,” Grover said on X.
Latest reports say that a lookout circular was issued earlier this week by the Economic Offence Wing of Delhi Police amid ongoing probe against both Grover and his wife for alleged fraud at BharatPe.
In December 2022, BharatPe lodged a criminal complaint against Grover, his wife, and her family members, accusing them of committing a Rs 81.28 crore fraud. Among the allegations was the claim that BharatPe paid approximately Rs 7.6 crore to eight HR consultants connected to the accused individuals between 2018 and 2021.
If found guilty, Grover, Madhuri, and others could potentially face sentences ranging from 10 years to life imprisonment. In December 2022, BharatPe initiated a civil suit in the Delhi High Court against its former MD and co-founder, Grover, and his family, seeking damages of up to Rs 88.67 crore for alleged cheating and embezzlement of funds.
The extensive 2,800-page suit claimed that Grover, Madhuri, and other family members engaged in fraudulent activities, including generating fake bills, involving fictitious vendors, and overcharging the company for recruitment services. Madhuri, who served as the head of controls at BharatPe, was terminated in 2022 following a forensic audit that exposed various irregularities. Subsequently, Ashneer Grover resigned as CEO in March 2022.
BharatPe gained attention the previous year when Grover faced accusations of using inappropriate language and threatening a Kotak Group employee over alleged failure to secure an allotment and funding for the Nykaa IPO for himself and Madhuri. In response, BharatPe appointed Alvarez and Marsal, Shardul Amarchand Mangaldas, and PwC to conduct a corporate governance review to ascertain whether Grover had committed willful misconduct.
This review resulted in the removal of Madhuri and Grover from the company and its board in March.