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

Livemint

Livemint · 1y 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.

Related News

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 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.

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

Economic Times

Economic Times · 1y 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 · 1y 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.

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.

BharatPe fraud: EOW spots date discrepancies

Livemint

Livemint · 1y 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.

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 urges RBI to probe ex-SBI Chairman Rajnish Kumar, says, 'He was complicit in fraud transactions'

IndianStartupNews

IndianStartupNews · 1y ago

Ashneer Grover urges RBI to probe ex-SBI Chairman Rajnish Kumar, says, 'He was complicit in fraud transactions'

Former BharatPe managing director Ashneer Grover has accused ex-SBI Chairman Rajnish Kumar, currently BharatPe's board chairman, of allocating equity shares worth hundreds of crores to himself. Grover alleges that this is part of a larger issue involving fraudulent transactions and misrepresentations to the Reserve Bank of India (RBI). He has called for an investigation into the matter. BharatPe has dismissed the claims as baseless and is pursuing legal action against Grover. The Ministry of Corporate Affairs and other authorities are already investigating BharatPe.

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

Ashneer Grover, former director of BharatPe, has asked the Reserve Bank of India (RBI) to investigate the shareholding of the company. Grover alleges that BharatPe fraudulently brought back Bhavik Koladiya, a convicted fraudster, to the company's cap table after obtaining licenses from the RBI. Grover questions whether BharatPe would have been approved for a stake in Unity Small Finance Bank or allowed to acquire Liquiloans had Koladiya been part of the company's cap table during the license application. BharatPe has filed lawsuits and criminal complaints against Grover and his family.

Ashneer Grover seeks reinstatement as BharatPe's MD, approaches NCLT

Money Control

Money Control · 1y ago

Ashneer Grover seeks reinstatement as BharatPe's MD, approaches NCLT

Ashneer Grover has approached National Company Law Tribunal (NCLT) seeking his reinstatement as the Managing Director of BharatPe. Grover has claimed that he was ousted from BharatPe in an "arbitrary manner in excess exercise of powers in order clawback his restrictive shares illegally". BharatPe had removed Grover from all positions in the company last year for alleged misappropriation of funds.

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