Ashneer Grover Seeks Quashing Of FIR After BharatPe Settlement

SUMMARY

Ashneer Grover, his wife Madhuri Jain and others are seeking to quash the FIR filed with Delhi Police’s Economic Offences Wing (EOW) on BharatPe’s complaint.

The petitioners said that since the parties reached a settlement on September 30, the FIR should be quashed.

Last month, BharatPe settled the case with Grover, stating that the ex-cofounder will not be associated with the startup in any capacity nor be a part of its shareholding.

Following the settlement of a two-year long legal dispute between BharatPe and Ashneer Grover, the fintech startup’s former managing director, his wife Madhuri Jain, among others, have moved the Delhi High Court seeking quashing of an FIR filed with Delhi Police’s Economic Offences Wing (EOW) in the case.

The petitioners said that since the parties reached a settlement on September 30, the FIR should be quashed. They sought some time to file the affidavit regarding the compliance of the terms of the settlement agreement, following which the HC asked them to file it within two days.

The court also asked BharatPe’s director to file an authorisation letter issued to him on behalf of the fintech company within two days.

Earlier, sources close to BharatPe told Inc42 that the startup would not object if the Grovers appealed to a court to quash the FIR.

The case dates back to January 2023, when BharatPe filed a civil suit against Grover and his family members for alleged embezzlement of funds. The fintech unicorn also sought up to INR 88.67 Cr in damages.

Following this, the Delhi Police EOW registered an FIR against Grover, his wife, and other family members alleging a fraud of INR 81 Cr.

As part of its investigation into the matter, Delhi Police arrested Grover’s brother-in-law Deepak Gupta, who was accused of instructing the vendor Amit Kumar Bansal, last month.

However, by the end of September, the fintech giant settled the case with Grover, stating that the ex-cofounder will not be associated with BharatPe in any capacity nor be a part of the shareholding of the company.

“Certain shares of Mr Grover shall be transferred to the Resilient Growth Trust for the benefit of the company and his remaining shares will be managed by his family trust,” BharatPe said in a statement.