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Ashneer Grover family generated fake invoices that had bank account numbers created later, reveals EoW probe

Money Control

Money Control · 2y ago

Ashneer Grover family generated fake invoices that had bank account numbers created later, reveals EoW probe

According to a preliminary investigation by the Economic Offences Wing, invoices linked to Ashneer Grover's family, co-founder of BharatPe, allegedly siphoned off funds from the fintech unicorn through fake recruitment services. The investigation revealed that the bank account numbers on these invoices were created after the dates when they were raised. The investigation also found that the registered addresses of the HR firms involved belonged to family members or relatives of Grover's wife and brother-in-law. Last year, BharatPe had filed a criminal complaint against the Grovers on various charges, including embezzlement and forgery.

Related News

BharatPe fraud: EOW spots date discrepancies

Livemint

Livemint · 2y ago

BharatPe fraud: EOW spots date discrepancies

An investigation by the Delhi Police's Economic Offences Wing (EOW) has found that recruitment firms associated with BharatPe co-founder Ashneer Grover and his family used backdated invoices to embezzle funds from the fintech unicorn. The EOW report revealed that several HR consultancy firms hired by BharatPe shared the same registered address with the accused family members and relatives, and submitted invoices with bank account numbers that were not open at the time. The investigation is ongoing, and BharatPe had previously filed a criminal complaint against Grover and his family members for a ₹81.28 crore fraud.

BharatPe cofounder Ashneer Grover, wife stopped at Delhi airport while travelling to New York

Economic Times

Economic Times · 2y ago

BharatPe cofounder Ashneer Grover, wife stopped at Delhi airport while travelling to New York

BharatPe co-founder Ashneer Grover and his wife Madhuri Jain were stopped at the Indira Gandhi International Airport due to a lookout circular (LoC) issued against them. The Delhi Police's Economic Offences Wing (EoW) opened the LoC, investigating alleged misappropriation of funds and losses to BharatPe. The EoW reported discrepancies in vendor invoices and linked HR consultancies to fund diversion. The couple is asked to appear before the EoW next week. Grover called the accusations "baseless" and "fabricated."

BharatPe Ashneer Grover, wife to appear before EOW for questioning today

Livemint

Livemint · 2y ago

BharatPe Ashneer Grover, wife to appear before EOW for questioning today

BharatPe co-founder Ashneer Grover and his wife Madhuri Jain are set to appear before Delhi Police's Economic Offences Wing (EOW) for questioning regarding an alleged fraud of ₹81 crores at the fintech unicorn. The EOW has accused them of using backdated invoices to divert funds and has invited the couple for questioning on November 21, 2023. In response to a complaint filed by BharatPe, the EOW initiated the investigation, and Grover had recently quoted that the investigation is at an initial stage.

‘I’ll be last man standing', says Ashneer Grover amid EOW probe in BharatPe case

Livemint

Livemint · 2y ago

‘I’ll be last man standing', says Ashneer Grover amid EOW probe in BharatPe case

Ashneer Grover, co-founder of BharatPe, has posted on social media that he will be "the last man standing" amidst the ongoing probe into allegations of fund misappropriation. The Economic Offences Wing (EOW) has stated that the investigation is still in its initial stages and that replies from various authorities are yet to be received. However, the EOW has strongly opposed Grover's plea to dismiss the case, citing the gravity of the offense and ongoing investigation. The case was filed by BharatPe against Grover and his family members last year.

Ashneer alleges 'wild-goose chase' by Delhi Police in BharatPe case: Report

Money Control

Money Control · 1y ago

Ashneer alleges 'wild-goose chase' by Delhi Police in BharatPe case: Report

BharatPe ex-MD Ashneer Grover has urged Delhi Police's Economic Offences Wing (EOW) to stop its "wild-goose chase" against him, Moneycontrol reported citing his letter to EOW officials. Ashneer said EOW's investigation on BharatPe's complaint could be "one-sided" and "non-compliant" with due procedures. He wrote the letters after EOW declined to remove a lookout circular against him and his wife.

Key Vendor In BharatPe Fraud Case Arrested: Report

Inc42 · 1y ago

Key Vendor In BharatPe Fraud Case Arrested: Report

The Delhi Police's Economic Offences Wing (EOW) has arrested Amit Kumar Bansal, a key vendor involved in the BharatPe fraud case. Bansal was taken into custody on August 6 and has been granted six-day police custody. The fintech company had filed a complaint with the EOW, accusing Ashneer Grover and his family of fraud amounting to INR 81.28 crore.

Ashneer Grover’s relative Deepak Gupta arrested by Delhi Police in BharatPe Fund misappropriation case | Mint

Livemint

Livemint · 1y ago

Ashneer Grover’s relative Deepak Gupta arrested by Delhi Police in BharatPe Fund misappropriation case | Mint

Deepak Gupta, a relative of Ashneer Grover, former Managing Director of BharatPe, has been arrested by the Delhi Police Economic Offences Wing (EOW) for allegedly misappropriating funds from the fintech company. Gupta will be presented before the Chief Judicial Magistrate for further investigation. This arrest is a significant development in the ongoing legal dispute between BharatPe and Grover, who was ousted from the company in 2022 due to allegations of financial misconduct. The Delhi High Court has also recently granted permission for Grover and his wife to travel internationally after challenging a Look Out Circular issued by the EOW.

Economic Offences Wing registers FIR against BharatPe ex-boss Grover

Livemint

Livemint · 1y ago

Economic Offences Wing registers FIR against BharatPe ex-boss Grover

The Economic Offences Wing (EOW) of Delhi Police has registered a first information report (FIR) against Ashneer Grover, the former managing director of BharatPe, and his family members. The FIR includes charges such as criminal breach of trust, cheating, forgery, and criminal conspiracy. This comes in response to a criminal complaint filed by BharatPe accusing Grover and his family of committing a ₹81.28 crore fraud. BharatPe alleges financial discrepancies, irregularities in recruitment, and hiring of third-party vendors. Grover has been the subject of multiple lawsuits, including one filed by BharatPe seeking damages.

Ashneer Grover, wife urge Delhi HC to quash FIR following settlement with BharatPe

Economic Times

Economic Times · 1y ago

Ashneer Grover, wife urge Delhi HC to quash FIR following settlement with BharatPe

- Fintech firm BharatPe and its former co-founder Ashneer Grover have settled their disputes in an alleged Rs 81 crore fraud case. - Grover and his wife, Madhuri Jain Grover, have urged the Delhi High Court to quash the FIR filed against them, citing a settlement agreement. - The court has granted time for the submission of an affidavit in compliance with the settlement agreement and listed the matter for further hearing on October 8. - All disputes between complainant Resilient Innovations Pvt Ltd, BharatPe, and the accused parties have been settled, according to senior advocate Mohit Mathur. - The accused parties seek the quashing of the FIR registered by the Economic Offences Wing of the Delhi Police under multiple provisions of the Indian Penal Code. - BharatPe alleges that Ashneer Grover and his family caused damages through illegitimate payments, inflated transactions, forged invoices, and destruction of evidence.

Ashneer Grover Urges RBI To Probe BharatPe Chairman Rajnish Kumar

Inc42 · 1y ago

Ashneer Grover Urges RBI To Probe BharatPe Chairman Rajnish Kumar

Former managing director of BharatPe, Ashneer Grover, has written a letter to the Reserve Bank of India (RBI), calling for an investigation into chairman Rajnish Kumar. Grover alleges that Kumar acquired significant equity shares worth hundreds of crores since joining the board and increased his salary to INR 1.5 crore per year. Grover also accused the board, investors, and management of fraud and lying to the RBI about the ownership of the company's shares. BharatPe denies the allegations and has stated their intention to take legal action against Grover.

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