BharatPe's co-founder Ashneer Grover and wife Madhuri Jain Grover face criminal proceedings

BharatPe has initiated criminal proceedings against the fintech unicorn BharatPe's co-founder Ashneer Grover and his wife Madhuri Jain Grover. Business Today reached out to the company for a comment. The former head of controls, Madhuri Jain Grover, and other connected parties of their family have been accused of civil and criminal activities, including misappropriation of company funds, as well as other related parties of their family. The company can't comment on the matter since the matter is sub judice, according to the spokesperson. We have full faith in the courts and authorities and are confident that justice will be done. BharatPe was co-founded in 2018 by Ashneer Grover and Shashvat Nakrani. He was stepping down from the board earlier this year because of a series of events.

The Fintech unicorn that allows shop owners to make digital payments through QR codes first sacked Madhuri Jain Grover for misappropriation of company funds. Grover resigned after the company stripping him of the co-founder title over alleged misappropriation of company funds by creating fake vendors to siphon money. The company accused Grover and his wife of using company expense accounts to enrich themselves and fund their lavish lifestyles. The Grovers have demanded over 88.67 crore from the company. As per the interim relief the company has sought, it has also demanded disclosure of assets of Grover and his family members, restraining them from posting any derogatory material on social media, and permission to approach all media houses to remove or delete material that is against the company.

Business Today reached out to Ashneer Grover for a comment, but has yet to get a response.