Almost after five months of criminal complaint by BharatPe, the Delhi Police Economic Offences Wing (EOW) has registered a first information report (FIR) against the company’s co-founder Ashneer Grover, his wife Madhuri Jain, and other family members.
The FIR has been registered under eight sections of serious cognizable criminal offences, including 409: criminal breach of trust by public servant, or by banker, merchant, or agent, 420: cheating and dishonestly inducing delivery of property, 467: forgery of valuable security, will etc, and 120B: criminal conspiracy.
“Registering the FIR marks a positive step forward in revealing multiple dubious transactions carried out by the family for their own financial benefit. 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,” BharatPe said in its statement.
Entrackr has also reached out to Grover and will carry his comments on the development when he responds.
Grover and BharatPe have been at loggerheads since February 2022. While Grover resigned in March 2022, he continued to level allegations on BharatPe’s every stakeholders: co-founders, board and its investors and termed his ouster from BharatPe as a conspiracy.
BharatPe had registered a criminal complaint against Grover and Family in December 2022 alleging fraud and seeking recovery of over Rs 88.67 crore in damages from Grover and family under various heads. The company’s co-founder Bhavik Koladiya and Shahvat Nakrani also filed a complaint against Grover in January and March 2023 respectively for share dispute.
BharatPe also moved to SICA (Singapore International Arbitration) to transfer Grover’s restricted shares to another cofounder Shashvat Nakrani for a total consideration of Rs 33.02 lakh.