Economic Fraud
Mastermind Ashneer Grover’s Relatives Arrested by Delhi EOW in Rs 81.3 Crore Scam. When Will Ashneer Grover Be Held?
Former BharatPe Managing Director and co-founder Ashneer Grover’s family member has been arrested by the Economic Offences Wing (EOW) of the Delhi Police. The arrest is in connection with the alleged embezzlement of BharatPe’s funds. This marks the first time a family member of Ashneer Grover has been arrested in the case. According to sources, Deepak Gupta, who is related to Ashneer Grover as the brother-in-law of his wife Madhuri Jain Grover, was taken into custody on the night of September 19. Gupta is the husband of Madhuri Jain’s sister. Madhuri, who served as the Head of Controls at BharatPe, had already been terminated from the company earlier.
A source revealed, “Deepak Gupta is currently being held at Mandir Marg police station and will soon be presented before the Chief Judicial Magistrate (CJM) at Saket Court, where the police are expected to request his remand.”
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It is important to note that BharatPe filed a criminal complaint in December 2022 against Ashneer Grover and five of his family members, including his wife Madhuri Jain, her brother Shwetank Jain, Ashneer’s father-in-law Suresh Jain, and Deepak Gupta. The company accused them of misappropriating Rs 81.3 crore from its funds.
BharatPe alleges that these individuals made illegal payments to fake human resource consultants, engaged in unnecessary payments through vendors, committed fraud in input tax credit, and fabricated transactions under the guise of GST penalties. Furthermore, the company claims that fake invoices were created and evidence was destroyed, causing significant financial loss to BharatPe.
In May 2023, the EOW filed an FIR against Ashneer Grover and his family. Last month, the first arrest in the case was made when Amit Kumar Bansal, who was involved in transactions with fake companies, was taken into custody. Bansal allegedly received Rs 72 crore in illegal payments between 2019 and 2021 from the then directors of BharatPe.