Ashneer Grover and Wife Approach Delhi HC to Challenge Lookout Circular in BharatPe Case

• ByStartupStory     |    February 2, 2024

Former BharatPe MD Ashneer Grover and his wife Madhuri Jain Grover have approached the Delhi High Court to challenge lookout circulars (LOC) issued against them by the Delhi Police’s Economic Offences Wing (EOW) in connection with an ongoing investigation.

The EOW had filed an FIR last year against the Grovers and their family members, alleging misappropriation of funds leading to losses worth Rs 81 crore for Resilient Innovations Private Limited, the company behind the UPI platform BharatPe. The couple was stopped at the Indira Gandhi International Airport’s Terminal 3 on November 16, 2023, when they were scheduled to travel to the United States and informed about the LOCs against them.

During the hearing, a single-judge bench of Justice Subramonium Prasad stated that it might not be appropriate to intervene in the matter at that stage, considering the pending Section 482 (CrPC petition) and the early stage of the investigation. The court emphasized the need to balance various aspects while dealing with matters related to LOCs.

The couple’s counsel, Giriraj Subramanium, assured the court of their full cooperation. Justice Prasad indicated that the authorities could consider the couple’s request to travel abroad for two days based on the facts of the case. The next hearing is scheduled for May 8.

In a previous ruling on June 1, 2023, another bench of the high court had declined to issue an interim order staying the EOW’s probe into the couple’s case but had issued a notice on their main plea. The FIR against them includes charges under various sections of the Indian Penal Code, such as criminal breach of trust, cheating, forgery, and criminal conspiracy.

Follow Startup Story