Ashneer Grover, wife, stopped from leaving for New York at Delhi airport

BharatPe founder Grover and wife Madhuri Jain were travelling to New York, a look-out circular has been issued against them

Ashneer Grover and his wife Madhuri Jain were stopped at the Indira Gandhi International Airport on Thursday while they were travelling to New York, The Economic Times (ET) reported on Friday, citing sources. The two were stopped on the basis of a look out circular (LOC) issued against them at the request of the Economic Offences Wing (EOW) of the Delhi Police.

In May, the EOW registered a case against the couple for alleged misuse of funds of Resilient Innovations Private Ltd, which runs BharatPe. The startup alleged that the Grover family used Rs 81 crore of its money for their personal expenditure.

 

This week, the EOW, in a status report to the Delhi High Court, stated that there were mismatches in the vendor invoices. Moreover, some human resource (HR) companies working with BharatPe were formed just to siphon off the company's money.

According to Moneycontrol, the investigation alleges that invoices from five companies supposedly providing recruitment services were backdated. Moreover, they were with associated bank accounts created after the invoicing dates.

An LoC is used by authorities to check if the person travelling is wanted by any law enforcement agency. The person is not allowed to travel outside the country once the circular is issued.

In a post on social media platform X recently, Grover said that he would be the "last man standing after BharatPe".

In the post, he cited the responses of various institutions denying the alleged charges in the ongoing investigations against him.

BharatPe has been in the news since 2022, when Grover was accused of using inappropriate language with a bank employee for failing to secure an allotment and funding for Nykaa IPO. Grover took a voluntary leave and later resigned from his post.