The troubles of Ashneer Grover, former managing director and co-founder of fintech company BharatPe, are increasing continuously. Deepak Gupta, a relative of Ashneer Grover, has been arrested by the Economic Offenses Wing of Delhi Police. Gupta is accused of involvement in the alleged misappropriation of funds from the company and is expected to be produced before the Chief Judicial Magistrate (CJM) in Saket Court.
Deepak Gupta, husband of Madhuri Grover’s sister, was arrested late night on September 19. Madhuri Grover, wife of Ashneer Grover, previously held the position of head of control at BharatPe, but was fired from the company. The arrest comes as part of an ongoing investigation after BharatPe filed a criminal complaint in December 2022.
The complaint names five persons, including Ashneer Grover, his wife Madhuri Grover, Shwetank Jain (Madhuri’s brother), Suresh Jain (Ashneer’s father-in-law) and Deepak Gupta (Ashneer’s brother-in-law). In May 2023, the EOW had registered a First Information Report (FIR) against the accused in a Rs 81 crore fraud case.
Last month, the EOW made its first arrest in the case, arresting Amit Kumar Bansal, who allegedly operated non-existent firms that received payments of Rs 72 crore from BharatPe between 2019 and 2021.
BharatPe has accused Ashneer Grover and his family of causing financial losses of about Rs 81.3 crore. The allegations include fraudulent payments to fake human resource consultants, inflated payments to vendors linked to the accused, fake transactions for input tax credit and illegal payments to travel agencies. In addition, the company claims that Shwetank Jain had created fake bills and evidence was destroyed to hide the matter. The investigation is ongoing.
