BharatPe Vs Ashneer Grover: Key things to know about the FIR filed by the Economic Offences Wing
EOW has revealed in the FIR that the Grover family members have defrauded the fintech unicorn to the tune of Rs 81 crore.
- May 11, 2023,
- Updated May 12, 2023 6:41 PM IST
Economic Offences Wing (EOW) has filed a first information report against former Managing Director of BharatPe, Ashneer Grover and his family members based on a complaint filed by the fintech unicorn last year. A copy of the FIR has been viewed by Business Today. Here are key things to know about this development:
Sections imposed
Ashneer Grover has been accused by EOW on more than eight accounts. The sections include 406 (Punishment for criminal breach of trust), 408 (Criminal breach of trust by clerk or servant), 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.), 468 (Forgery for purpose of cheating), 471 (Using as genuine a forged document or electronic record), and 120B (Punishment of Criminal Conspiracy).
Who all are accused?
Five family members including Grover have come under the radar in the FIR registered. This includes Grover’s wife Madhuri Jain Grover along with his brother-in-laws Shwetank Jain, Deepak Gupta, and Suresh Jain.
Accusations by EOW
EOW has accused Grover and the others of making illegitimate payments to the tune of Rs 7.6 crore to fake Human Resource consultants on the basis of 86 forged and false invoices.
EOW has also accused Grover of making illegal payments to travel agencies connected to services availed by the family members. Moreover, the governing body has accused Madhuri Jain of destroying evidence.
If found guilty, Grover and the family members can face up to 10 years of imprisonment. In addition, the EOW now has the power to arrest all accused.
MZM Legal LLP, the law firm that represents BharatPe told BT that a thorough inquiry was conducted before filing the FIR.
“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,” Zulfiquar Memon, Managing Partner at the firm said.
BT reached out to Ashneer Grover but failed to get a response.
Also Read: Economic Offences Wing files FIR against Ashneer Grover & family for defrauding BharatPe
Economic Offences Wing (EOW) has filed a first information report against former Managing Director of BharatPe, Ashneer Grover and his family members based on a complaint filed by the fintech unicorn last year. A copy of the FIR has been viewed by Business Today. Here are key things to know about this development:
Sections imposed
Ashneer Grover has been accused by EOW on more than eight accounts. The sections include 406 (Punishment for criminal breach of trust), 408 (Criminal breach of trust by clerk or servant), 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.), 468 (Forgery for purpose of cheating), 471 (Using as genuine a forged document or electronic record), and 120B (Punishment of Criminal Conspiracy).
Who all are accused?
Five family members including Grover have come under the radar in the FIR registered. This includes Grover’s wife Madhuri Jain Grover along with his brother-in-laws Shwetank Jain, Deepak Gupta, and Suresh Jain.
Accusations by EOW
EOW has accused Grover and the others of making illegitimate payments to the tune of Rs 7.6 crore to fake Human Resource consultants on the basis of 86 forged and false invoices.
EOW has also accused Grover of making illegal payments to travel agencies connected to services availed by the family members. Moreover, the governing body has accused Madhuri Jain of destroying evidence.
If found guilty, Grover and the family members can face up to 10 years of imprisonment. In addition, the EOW now has the power to arrest all accused.
MZM Legal LLP, the law firm that represents BharatPe told BT that a thorough inquiry was conducted before filing the FIR.
“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,” Zulfiquar Memon, Managing Partner at the firm said.
BT reached out to Ashneer Grover but failed to get a response.
Also Read: Economic Offences Wing files FIR against Ashneer Grover & family for defrauding BharatPe