BharatPe slaps case against ex-MD’s wife
- ByStartupStory | December 8, 2022
BharatPe has filed a case against its former managing director Ashneer Grover’s wife and former head of controls Madhuri Jain under Section 420, a person aware of the matter said. The matter can be heard within the Delhi excessive courtroom on Thursday.
The growth comes months after Grover, alongside along with his wife, have been ousted by the BharatPe board over the misappropriation of funds.
Section 420 of the Indian Penal Code (IPC) offers the offense of dishonest and dishonestly inducing the supply of property. The most punishment for the offense is imprisonment for as many as seven years and a tremendous.
Grover declined to remark. In February, Mint first reported that Grover and Jain have been charged with alleged misappropriation of funds. The firing was based mostly on findings of an Alvarez and Marsal preliminary report, dated 24 January, that was submitted to the BharatPe board. The preliminary investigations, which led to the board of BharatPe terminating the companies of Grover and his wife, discovered irregularities associated with vendor funds.
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