Odisha News, Odisha Latest news, Odisha Daily - OrissaPOST
  • Home
  • Trending
  • State
  • Metro
  • National
  • International
  • Business
  • Feature
  • Entertainment
  • Sports
  • More..
    • Odisha Special
    • Editorial
    • Opinion
    • Careers
    • Sci-Tech
    • Timeout
    • Horoscope
    • Today’s Pic
  • Video
  • Epaper
  • News in Odia
  • Home
  • Trending
  • State
  • Metro
  • National
  • International
  • Business
  • Feature
  • Entertainment
  • Sports
  • More..
    • Odisha Special
    • Editorial
    • Opinion
    • Careers
    • Sci-Tech
    • Timeout
    • Horoscope
    • Today’s Pic
  • Video
  • Epaper
  • News in Odia
No Result
View All Result
OrissaPOST - Odisha Latest news, English Daily -
No Result
View All Result

Close relatives helped Grovers siphon off BharatPe funds

Agencies
Updated: March 11th, 2022, 20:00 IST
in Business, National, Top Stories
0
Ashneer Grover
Share on FacebookShare on TwitterShare on WhatsAppShare on Linkedin

 

New Delhi: Amid the hullabaloo over Ashneer and Madhuri Jain Grover and their tussle with BharatPe, it has been revealed that the admin head at the fintech firm was Madhuri’s close relative. He was allegedly involved in the misappropriation of funds and was also sacked. Deepak Jagdishram Gupta is Madhuri’s brother-in-law and worked as admin head. He reported to ‘Head of Controls’ Madhuri, who, in turn, reported directly to Co-founder and MD Ashneer Grover. They were allegedly involved in siphoning of funds via creating bogus vouchers and inflated vendor bills.

Also Read

Kasba law college rape case

Kasba rape case: Vice principal’s entries spark suspicion, investigation on

35 mins ago
29 foreign nationals

29 foreign nationals, including 18 Bangladeshis, deported from Delhi

45 mins ago

According to media reports, the Directorate General of GST Intelligence (DGGI) had conducted a search operation at BharatPe’s head office October 21, 2021. Gupta had told the GST team that the vendors on whom details are sought ‘do not exist’.

A total expenditure of Rs 53.25 crore was made towards at least 30 vendors that did not exist. BharatPe had incurred a loss of Rs 10.97 crore in those dealings.

According to media reports, Madhuri herself received invoices for payments and forwarded them to the accounts team. These invoices were created by Shwetank Jain, who is her brother.

According to BharatPe, Ashneer, his wife and their relatives were engaged in extensive misappropriation of funds. They grossly abused company money ‘to fund their lavish lifestyles’.

Also read: BharatPe sacks Shark Tank judge Ashneer Grover’s wife over ‘misappropriation of funds’

“The Grover family and their relatives engaged in extensive misappropriation of company funds, including, but not limited to, creating fake vendors through which they siphoned money away from the company’s expense account and grossly abused company expense accounts in order to enrich themselves and fund their lavish lifestyles,” BharatPe had said in an earlier statement.

BharatPe had earlier sacked Madhuri over allegations of financial irregularities during her tenure at the company as Head of Controls. On the other hand, Ashneer decided to quit right before the crucial board meeting to grill him over misappropriation of funds.

According to sources, the Grovers allegedly spent company money on expensive business class tickets for the entire family for vacationing abroad, beauty/skin treatments, buying electronic items, providing house staff salaries (driver/maids), 5-star dinners, etc.

The Grovers have also bought another property worth Rs 30-35 crore in an upscale condominium in Gurugram, said sources. Ashneer and his family live in Panchsheel Park, a posh locality in south Delhi. His huge 18,000 square foot mansion is reported to be worth at least Rs 25-30 crore.

“As a result of his misdeeds, (Ashneer) Grover is no longer an employee, a founder, or a director of the company,” the company had said.

 

Tags: AshneerBharatPeCroreDelhiFinancialGroversMDRelatives
ShareTweetSendShare
Suggest A Correction

Enter your email to get our daily news in your inbox.

 

OrissaPOST epaper Sunday POST OrissaPOST epaper

Click Here: Plastic Free Odisha

#MyPaperBagChallenge

Akriti Negi

December 12, 2019
#MyPaperBagChallenge

Akshaya Kumar Dash

December 12, 2019
#MyPaperBagChallenge

Priyabrata Mohanty

December 12, 2019
#MyPaperBagChallenge

Ramakanta Sahoo

December 12, 2019
#MyPaperBagChallenge

Spinoj Pattnaik

December 12, 2019
#MyPaperBagChallenge

Pragyan Priyambada

December 12, 2019
#MyPaperBagChallenge

Sipra Mishra

December 12, 2019
#MyPaperBagChallenge

Bijswajit Pradhan

December 12, 2019
#MyPaperBagChallenge

Chinmay Kumar Routray

December 12, 2019
#MyPaperBagChallenge

Mandakini Dakua

December 12, 2019
#MyPaperBagChallenge

Kamana Singh

December 12, 2019
#MyPaperBagChallenge

Mrutyunjaya Behera

December 12, 2019
#MyPaperBagChallenge

Sarmistha Nayak

December 12, 2019
#MyPaperBagChallenge

Anshuman Sahoo

December 12, 2019
#MyPaperBagChallenge

Archit Mohapatra

December 12, 2019
#MyPaperBagChallenge

Subhajyoti Mohanty

December 12, 2019
#MyPaperBagChallenge

Jyotshna Mayee Pattnaik

December 12, 2019
#MyPaperBagChallenge

Faiza Firdous

December 12, 2019
#MyPaperBagChallenge

Praptimayee Biswal

December 12, 2019
#MyPaperBagChallenge

Sitakanta Mohanty

December 12, 2019
#MyPaperBagChallenge

Geetanjali Patro

December 12, 2019
#MyPaperBagChallenge

Nishikant Rout

December 12, 2019
#MyPaperBagChallenge

Matrumangal Jena

December 12, 2019
#MyPaperBagChallenge

Shreyanshu Bal

December 12, 2019
#MyPaperBagChallenge

Aman Kumar Barisal

December 12, 2019
#MyPaperBagChallenge

Anup Mahapatra

December 12, 2019
#MyPaperBagChallenge

Ramakanta Sahoo

December 12, 2019
#MyPaperBagChallenge

Saishree Satyarupa

December 12, 2019
#MyPaperBagChallenge

Smitarani Sahoo

December 12, 2019
?????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????
#MyPaperBagChallenge

Dibya Ranjan Das

December 12, 2019

Archives

Editorial

Acknowledge Failure

Deputy Chief of Army Staff Lieutenant General Rahul R Singh
July 7, 2025

Deputy Chief of Army Staff Lieutenant General Rahul R Singh’s candid revelations about Operation Sindoor at a FICCI event ‘New...

Read more

Politics of Philosophy

AAKAR PATEL
July 6, 2025

The BJP’s constitution (Article 3) says, “Integral Humanism shall be the philosophy of the party.” The party’s membership form has...

Read more

India’s Spy Shift

July 5, 2025

India’s espionage architecture is quietly shifting. The appointment of Parag Jain as the new chief of RAW comes at a...

Read more

Hungary Lessons

Hungary
July 2, 2025

Revolting against oppression and seeking freedom is ingrained in human nature, something that a repressive regime finds out sooner or...

Read more
  • Home
  • State
  • Metro
  • National
  • International
  • Business
  • Editorial
  • Opinion
  • Sports
  • About Us
  • Advertise
  • Contact Us
  • Jobs
Developed By Ratna Technology

© 2024 All rights Reserved by OrissaPOST

  • News in Odia
  • Orissa POST Epaper
  • Video
  • Home
  • Trending
  • Metro
  • State
  • Odisha Special
  • National
  • International
  • Sports
  • Business
  • Editorial
  • Entertainment
  • Horoscope
  • Careers
  • Feature
  • Today’s Pic
  • Opinion
  • Sci-Tech
  • About Us
  • Contact Us
  • Jobs

© 2024 All rights Reserved by OrissaPOST

    • News in Odia
    • Orissa POST Epaper
    • Video
    • Home
    • Trending
    • Metro
    • State
    • Odisha Special
    • National
    • International
    • Sports
    • Business
    • Editorial
    • Entertainment
    • Horoscope
    • Careers
    • Feature
    • Today’s Pic
    • Opinion
    • Sci-Tech
    • About Us
    • Contact Us
    • Jobs

    © 2024 All rights Reserved by OrissaPOST