In yet another twist in the never-ending BharatPe controversy, the company has accused its head of control and beleaguered co-founder Ashneer Grover for alleged financial irregularities, ranging from creating fake invoices during his tenure at the company. Wife, Madhuri Jain Grover has been sacked. Billing the company for personal beauty treatments and foreign trips.
Sources told PTI that an ongoing review by risk advisory firm Alvarez and Marsal found that Grover had allegedly shared “confidential information which was used by his father and brother to generate invoices and charge the company under the camouflage of some third parties”. To increase.” She reportedly billed the company in April 2021 for beauty treatments like Laser Genesis and Clearlift. In addition, reports state that he also billed the company for the items he bought for his residence, which includes a TV and a fridge.
The list of allegations against Ashneer Grover’s wife does not end here. According to the report, he also accused the company of family trips to the US and Dubai, increased purchases of marketing and branding products, receiving fake quotes from friendly parties and paying salaries of key and individual employees from the company’s accounts.
A BharatPe spokesperson confirmed Jain’s termination and sources said the company has also canceled all 244 uninvested and 56 vested employee stock options (ESOPs). BharatPe spokesperson told PTI, “As per your query, we can confirm that Madhuri Jain Grover’s services have been terminated under the terms of her employment agreement.”
Madhuri Jain Grover was heading the company’s finances since October 2018 and her services were terminated with effect from February 22, 2022.
Significantly, Jain had resigned from the company. He later made a statement that BharatPe’s board had accepted the resignation he had never sent. Further, reports suggest that her husband had offered her resignation in the board meeting of January 19. Soon after, he withdrew his decision calling it a spontaneous decision. However, he was asked to go on compulsory leave on January 20.
The post of BharatPe sacking Ashneer Grover’s wife over financial irregularities first surfaced on BGR India.