Ashneer Grover's family under EoW probe: Post-dated invoices uncovered

Embattled BharatPe co-founder Ashneer Grover and his family are facing deeper scrutiny as an Economic Offences Wing investigation has revealed fresh details regarding alleged fraudulent activities. According to a preliminary report, the initial invoices of five companies associated with Grover's family purportedly diverted funds from the fintech unicorn under the guise of recruitment services. These invoices contained bank account numbers that were created after their purported issue dates.

The investigation unearthed that these dubious invoices, submitted by vendors to the investigating agency, were generated after the establishment of bank accounts for these firms. It strongly suggests that these entities were set up solely to facilitate fund diversion and illegitimate gains for the implicated individuals.

The report submitted to the Delhi High Court indicated that the registered addresses of these eight HR firms were linked to family members or relatives of Grover's kin, including Madhuri Jain (Grover's wife), Suresh Jain (Madhuri Jain's father), and Shwetank Jain (Madhuri Jain's brother). Approximately ₹7.60 crore were allegedly credited to these firms, primarily from the complainant company, RIPL.

BharatPe previously filed a criminal complaint with the EoW, encompassing charges such as embezzlement, forgery, and criminal breach of trust. If proven guilty, the accused individuals could face imprisonment for up to ten years.

This revelation further complicates the ongoing legal battle between BharatPe and the Grovers. The fintech company has filed a civil suit demanding over ₹88 crore in damages, alleging misappropriation of funds, fake invoicing, and personal use of company resources by the accused parties.

Amidst these allegations, earlier controversies involving Grover's alleged misconduct and his resignation as BharatPe's Managing Director in response to inappropriate language usage and threats towards a Kotak Group employee have exacerbated the company's tumultuous journey.

The unfolding investigation sheds light on a convoluted web of alleged financial misconduct, raising significant concerns about the integrity and practices of those associated with the fintech unicorn.

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