Meet Ashneer Grover, a renowned entrepreneur and the former Co-Founder and Managing Director of BharatPe. Born on June 14, 1982, Ashneer, now 41, has achieved remarkable success in the business world. His journey started at the prestigious Indian Institute of Technology, Delhi (IIT – Delhi), where he excelled, securing the second rank in his department. Additionally, he participated in an exchange program at INSA Lyon, completing his third year of engineering.
Ashneer became a household name as a judge on the first season of Shark Tank India. Recently, he shared his insights and experiences in his memoir, “Doglapan – The Hard Truth about Life and Start-ups.” Known for his business accomplishments and TV presence, Ashneer Grover is a familiar face in India’s entrepreneurial landscape.
Ashneer Grover And his Wife Stopped at the Airport
Ashneer Grover and his wife Madhuri Jain were recently halted at Delhi airport due to a lookout circular (LoC) issued by the Economic Offences Wing (EOW). The couple was prevented from boarding their flight to the US, with scheduled travel dates from November 16 to 23.
Upon reaching immigration, they were informed, “LoC laga hua hai sir – EOW se check kar ke batate hai” (A lookout notice has been issued, sir – We will update you after checking with EOW). During this time, the flight left. However, the EOW officials directed Immigration to allow them to exit, enabling their return home.
Grover in his response on X
Grover found it strange because he has traveled internationally four times since the FIR was filed in May, and it has never been a problem. He mentioned that he had not even been summoned once. He became aware of the Lookout Circular (LoC) issued against them seven hours after returning from the airport. “There is a process to get the LoC revoked. I am not a flight risk, and it’s easy to prove,” he added.
What is the FIR against Ashneer?
In May, the Economic Offences Wing (EoW) filed an FIR against Ashneer Grover, his wife Madhuri, and family members Deepak Gupta, Suresh Jain, and Shwetank Jain for an alleged fraud of Rs 81 crore, following a complaint by fintech unicorn BhartPe.
The EoW couldn’t trace many firms to which BharatPe had made vendor payments. BhartPe’s complaint detailed damages of about Rs 81.3 crore, citing illegitimate payments, inflated payments through vendors connected to the accused, sham transactions, illegal payments to travel agencies, and forged invoices.
If convicted, Grover, Madhuri, and others could face up to 10 years to life imprisonment.
In December 2022, BharatPe filed a civil suit against Grover and his family, seeking Rs 88.67 crore in damages for alleged cheating and embezzlement of funds. The suit alleged the creation of fake bills, enlistment of fictitious vendors, and overcharging the company for recruitment.
Madhuri, the former head of controls at BharatPe, was fired in 2022 after a forensic audit revealed irregularities. Following this, Ashneer Grover resigned as CEO in March 2022.
