BharatPe Filed A Criminal Suit Against Ashneer Grover, Madhuri Jain And Sought Damages Of Rs 88 Crore; The Delhi High Court Has Issued A Summons
December 9, 2022: “BharatPe has initiated civil and criminal proceedings against erstwhile cofounder and managing director Ashneer Grover, former head Madhuri Jain Grover and other related parties of their families for various claims including misappropriation of company funds.
We have full confidence in the courts and authorities and we are confident that justice will be done,” said a spokesperson.
Following Ashneer Grover’s bitter exit from the fintech unicorn he co-founded BharatPay, the digital payments company is seeking damages of Rs 88 crore from him, wife Madhuri Jain and other family members.
Former BharatPay founder and CEO Grover and his wife have also been issued summons by the Delhi High Court on Thursday.
BharatPe filed a criminal case against Jain and Grover on 17 counts, including criminal breach of trust, misappropriation of funds, as well as a civil suit seeking damages of Rs 80 crore.
In the first hearing on Thursday, the court summoned the couple and gave them two weeks to respond to the company’s allegations.
“BharatPe has initiated civil and criminal proceedings against erstwhile cofounder and managing director Ashneer Grover, former head Madhuri Jain Grover and other related parties of their families for various claims including misappropriation of company funds.
We have full faith in the courts and the authorities and we are confident that justice will be done,” said a Bharatpena spokesperson. However, the lawyer representing Grover argued that he was never served with a legal claim.
The next hearing will be held on January 9, 2023. The fintech alleges that the Grover family created fake bills, hired fake vendors to provide services to the company and overcharged the company for the recruitment.
BharatPe for misappropriation of funds due to Grover’s public statements of Rs. 83 crores and for damage to the reputation of the company Rs. 5 crore claims have been sought.
In its petition, the fintech has alleged that once the defendants occupied these key positions and roles, they treated the plaintiff as their personal fiefdom.
By deliberately perpetuating the lack of internal governance policies in the plaintiff company, they managed its affairs for their personal benefit, it added.
During a court hearing today, a lawyer representing BharatPay argued that the co-founder and his wife were running a “vicious and vitriolic campaign” against the company on Twitter.
Senior advocate Mukul Rohatgi, representing Bharatpay, requested the court to intervene to prevent Grover from continuing his ‘vitriolic campaign’ against the company on social media.
“Right now, it is only a complaint and not an FIR. If found guilty, Grovers could face up to 10 years in jail,” Moneycontrol quoted a person in the know as saying.
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