‘Deposit INR 80 Cr Security’: Delhi HC’s Conditions For Ashneer Grover, Madhuri Jain To Travel Abroad

The Delhi High Court has ordered BharatPe cofounder and former MD Ashneer Grover and his spouse Madhuri Jain Grover to deposit a security of INR 80 Cr for travelling abroad.

Justice Subramonium Prasad directed the couple, accused of committing a fraud of INR 81 Cr at BharatPe, to furnish the security by way of property.

Inc42 has seen a copy of the two separate orders pertaining to Ashneer and Madhuri.

Further, the Delhi HC has asked the husband-wife duo to surrender their Emirates Card to prevent them from fleeing to the UAE, given they are golden visa-holders.

The couple has also been restrained from creating any third party rights on the shares of BharatPe they own.  

Despite protests from the Economic Offences Wing, the Delhi HC had on Thursday permitted Grover and Jain to travel to the US “separately” for their children’s summer school.

Justice Prasad said one of them must remain in India as “mortgage” while the other one travels abroad.

Grover will travel to the US on May 26, with his return to India scheduled for June 14. On the other hand, wife Madhuri will leave for the US on June 15 and return on July 1.

It’s pertinent to mention that the EOW had earlier objected to Grover and Jain’s plea seeking permission to travel to the US with their children, claiming that they were a flight risk as they own properties abroad.

The EOW had reasoned that the probe into the case against Grover and his family was at an advanced and crucial stage, claiming that Madhuri, in particular, was not cooperating with the investigation.

Currently, Grover and Jain are under investigation over allegations of fraud that came to light in late 2023. They are accused of embezzling funds from BharatPe and making payments to allegedly fake HR consultancies.

In light of allegations of fraud, the EOW has issued a look out circular against the husband-wife duo that bans them from leaving the country without the court’s permission.

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