Ashneer Grover: Former managing director of BharatPe, Ashneer Grover, his wife Madhuri Grover and two other family members are in big trouble. The Economic Offences Wing (EOW) filed a first information report (FIR) against them on a complaint by fintech unicorn BharatPe. If found guilty, the Grovers and family could face 10 years jail and life imprisonment.
The FIR was registered under several sections of the Indian Penal Code, ranging from criminal conspiracy to forgery for purposes of cheating. BharatPe has welcomed the registration of the FIR and expressed its intention to cooperate with the authorities.
Notably, EOW now has the power to arrest all the accused.
Breach of trust, cheating, forgery
The FIR was registered under sections 406 (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 (criminal conspiracy) of the Indian Penal Code at EOW police station.
BharatPe said in a statement, “We welcome the registration of an FIR by the EOW in the company’s complaint in relation to the criminal offences 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 “
Suspicious transactions by Ashneer, family
“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. This FIR will now enable the Law enforcement agencies to investigate deeper into the criminality and bring the culprits to books,” it said.
“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. MZM Legal is advising us (BharatPe) on the criminal case,” it added.
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