Delhi Police books Ashneer Grover and Wife for Rs 81 crore fraud

Ashneer Grover, the former MD and co-founder of BharatPe, along with his wife Madhuri Jain Grover and some of their relatives, have been accused of committing an alleged fraud worth Rs. 81 crore last year. The Economic Offences Wing (EOW) of Delhi Police has registered a case against them based on a complaint filed by BharatPe, which alleged that the Grovers misused the company’s funds through forged documents. Grover has denied the allegations and claimed that he is innocent.

BharatPe filed a civil lawsuit and a criminal complaint with the EoW in December, which subsequently led to the FIR. 

The Delhi Police received a complaint from Resilient Innovations Pvt Ltd (BharatPe), wherein the complainant accused Ashneer Grover (founder and ex-director of the complainant’s company), his wife Madhuri (Jain) Grover, and other employees of criminal misappropriation of the company’s funds. The complaint stated that the accused had used forged and fabricated documents to make payments to non-existent firms, vendors, and HR consultancy firms without providing any services, resulting in a wrongful loss of approximately Rs. 81 crores to the company.

According to the FIR, the embezzlement was uncovered through an internal investigation conducted by the company. The case has been filed under multiple sections of the law, including 406 (which deals with the punishment for criminal breach of trust), 408 (which covers criminal breach of trust by a clerk or servant), 409 (which pertains to criminal breach of trust by a public servant, banker, merchant, or agent), 420 (which addresses cheating and dishonestly inducing the delivery of property), 467 (which relates to forgery of valuable security, will, etc.), 468 (which deals with forgery for the purpose of cheating), 471 (which concerns the use of a forged document), and 120B (which deals with the punishment for criminal conspiracy).

BharatPe has released a statement expressing their approval of the Economic Offences Wing of the Delhi Police registering an FIR in response to the criminal offenses committed by Grover, his wife Madhuri Jain, and other members of their family, which were reported by the company. Over the past 15 months, BharatPe has been subjected to a harmful and false campaign orchestrated by Grover against the company, its board, and staff. The registration of the FIR is a positive move that exposes the questionable transactions carried out by the family for their own financial benefit.