BharatPe's FIR against ousted cofounder and MD Ashneer Grover has been registered by the Economic Offences Wing (EOW)
Besides EOW, BharatPe has also filed a civil suit with the Delhi High Court seeking INR 88.67 Cr in damages
Grover is also facing lawsuits from BharatPe cofounders Bhavik Koladiya and Shashvat Nakrani who are looking to claw back their shares in the company
BharatPe’s first information report (FIR) against ousted cofounder and MD Ashneer Grover, his wife Madhuri Jain Grover, and family members, including Deepak Gupta, Suresh Jain, and Shwetank Jain has been registered by the Economic Offences Wing (EOW) on Wednesday (May 10), as per documents seen by Inc42.The FIR lays out the modus operandi of the alleged fraud, in which the accused persons have been said to have paid commissions to ‘bogus HR consultants’ which were linked to Suresh Jain and Shwetank Jain, as per BharatPe.In a statement to Inc42, a BharatPe spokesperson said, “For the last 15 months, the company has been facing a vicious and malicious campaign run by Grover against the company, the board and its employees. The registration of the FIR is a step in the right direction which unearths various suspicious transactions made by the family for their personal pecuniary gains. This FIR will now enable the law enforcement agencies to investigate deeper into the criminality and bring the culprits to books. We have full faith in our country’s judicial and law enforcement systems and are optimistic that this case will reach its logical conclusion. We will continue to extend all possible cooperation to the authorities. MZM legal is advising us (BharatPe) on the criminal case.”
The fintech unicorn had filed a criminal complaint with the Delhi Police’s EOW against Ashneer Grover and family in December last year, alleging a fraud of INR 81.28 Cr.