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BharatPe Fraud: Court Sends Grover’s Kin To Judicial Custody

Inc42 · 10m ago

BharatPe Fraud: Court Sends Grover’s Kin To Judicial Custody

Former BharatPe employee, Deepak Gupta, has been sent to five days of police custody by a Delhi court in connection with an alleged INR 82 crore fraud case. Gupta, who previously served as the administration and procurement head at the company, was arrested following the earlier arrest of vendor Amit Kumar Bansal. The investigation into the case is ongoing.

Related News

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

Livemint

Livemint · 11m 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.

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.

DHFL scam: 7 cops suspended for providing special treatment to Wadhawan brothers

Livemint

Livemint · 1y ago

DHFL scam: 7 cops suspended for providing special treatment to Wadhawan brothers

The Wadhawan brothers, Kapil and Dheeraj, who are facing cases of alleged cheating and fraud, were shown enjoying privileges during medical check-ups at government hospitals in Mumbai while in judicial custody. The Navi Mumbai Police personnel escorted them from the Taloja prison. Following a review, senior police officers found negligence by the escorting personnel and issued suspension orders. Both brothers are connected to the Dewan Housing Finance Ltd (DHFL). Sebi fined them for violating disclosure norms. Dheeraj Wadhawan was denied medical bail by a special CBI court in a case related to alleged fraud at Yes Bank.

‘Deposit INR 80 Cr Security’: Delhi HC’s Conditions For Ashneer Grover, Madhuri Jain To Travel Abroad

Inc42 · 1y ago

‘Deposit INR 80 Cr Security’: Delhi HC’s Conditions For Ashneer Grover, Madhuri Jain To Travel Abroad

The Delhi High Court has ordered a couple accused of committing an INR 81 crore fraud at BharatPe to provide security in the form of property. The court has also asked them to surrender their Emirates Card to prevent them from traveling to the UAE. The couple, who are golden visa-holders, has been restricted from creating any third-party rights on the shares they own in BharatPe.

BharatPe Fraud: Delhi HC Allows Ashneer Grover’s Plea To Travel To Qatar On Conditions

Inc42 · 11m ago

BharatPe Fraud: Delhi HC Allows Ashneer Grover’s Plea To Travel To Qatar On Conditions

The Delhi High Court has observed that the petitioner, Ashneer Grover, has appeared before the investigating agency whenever summoned. Grover's lawyer argued that while he will attend a personal meeting abroad, his family will remain in India, making it unlikely for him to abscond. Grover and his wife, Madhuri, had moved the Delhi HC challenging the lookout circulars issued against them by the Delhi Police's Economic Offences Wing for alleged misappropriation of funds at BharatPe.

Delhi HC denies bail to Kapil Wadhawan in Rs 34,615-crore bank fraud case

Economic Times

Economic Times · 14d ago

Delhi HC denies bail to Kapil Wadhawan in Rs 34,615-crore bank fraud case

The Delhi High Court denied bail to Kapil Wadhawan, former DHFL chairman, in a Rs 34,615-crore bank fraud case. The court cited the seriousness of allegations, Wadhawan's role in the conspiracy, and potential risks of his release to the trial. Wadhawan, accused of defrauding a bank consortium of Rs 42,871 crore, allegedly siphoned and misappropriated funds. The court noted Wadhawan's problematic behavior during custody and stressed the economic implications of the crime.

Fresh Development In BharatPe Case: Now, Ashneer Grover’s Kin Linked To The Fraud Arrested

Inc42 · 11m ago

Fresh Development In BharatPe Case: Now, Ashneer Grover’s Kin Linked To The Fraud Arrested

Deepak Gupta, brother-in-law of Grover, has been accused of instructing vendor Bansal, who was recently arrested in connection with the alleged embezzlement of funds at the company. The arrest comes after an extensive investigation and the questioning of numerous witnesses. BharatPe's internal investigation, conducted after the resignation and removal of Ashneer Grover and Madhuri Jain, uncovered various illegalities and irregularities.

Ashneer, wife Madhuri allowed to travel to US separately by HC

Inshorts · 1y ago

Ashneer, wife Madhuri allowed to travel to US separately by HC

BharatPe ex-MD Ashneer Grover and his wife Madhuri Jain Grover have been allowed by the Delhi High Court to travel to the US separately for their children's summer school. The Delhi Police's Economic Offences Wing, which is investigating the couple over an alleged ₹81-crore fraud, had objected to their trip. A look out circular was issued against them last year.

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

Economic Times

Economic Times · 10m 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 writes to RBI for probe into BharatPe’s shareholding: Report

Business Today

Business Today · 1y ago

Ashneer Grover writes to RBI for probe into BharatPe’s shareholding: Report

Former BharatPe director, Ashneer Grover, has written to the Reserve Bank of India (RBI), urging an investigation into the shareholding of the Peak XV-backed company. In a letter, Grover alleges that BharatPe deliberately committed fraud by returning Bhavik Koladiya, who was convicted of wire fraud in the US, to the company's cap table after securing licenses. Grover questions whether BharatPe would have been considered fit for a stake in Unity Small Finance Bank or allowed to acquire Liquiloans if Koladiya was part of the cap table during the license application process.

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