BENGALURU: The trouble between former BharatPe managing director Ashneer Grover and BharatPe seems to be far from over as the Economic Offences Wing has registered an FIR under eight sections against Grover, his wife, and family members.
A source told TNIE that this FIR is for allegedly defrauding the company of Rs 81.28 crore. The sections include 468 (forgery for the purpose of cheating), 120B (punishment of criminal conspiracy) and 406 (punishment for criminal breach of trust), among others.
The accusations against Grover and his family members also include illegitimate payments to the tune of Rs 7.6 crore to bogus HR consultants on the basis of 86 false and forged invoices and inflated and undue payments through passthrough vendors connected to the accused persons to the detriment of the complainant company.
MZM Legal is advising BharatPe on the criminal case.
"After a detailed complaint was filed with the EOW, a thorough inquiry was conducted with voluminous documents on record. We are glad that cognizance has been taken and an FIR is now registered against Ashneer, his wife and others," said Zulfiquar Memon, Managing Partner, MZM Legal LLP.
Earlier in January, the fintech unicorn had filed a civil suit and a criminal complaint against Grover, his wife Madhuri Jain, and other family members for misappropriation of company funds. The company also filed a criminal complaint with the EOW on 17 counts, including cheating, siphoning, criminal breach of trust, and embezzlement of funds, against Grover and his family.
In March last year, Grover resigned from BharatPe, and his wife Madhuri Jain, was terminated from the firm.
The battle between Grover and BharatPe started after an audio clip, allegedly of Grover abusing and threatening a Kotak Mahindra Bank employee for missing out on Nykaa's IPO, went viral on social media.
Meanwhile, BharatPe in a statement welcomed the registration of an FIR by the Economic Offences Wing of the Delhi Police in the Company’s complaint in relation to the criminal offenses by Grover, his wife Madhuri Jain and other family members. "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," it said.
"This FIR will now enable 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," the company added.