Chandigarh : Statement to go out from BharatPe:“We welcome the registration of an FIR by the Economic Offences Wing of the Delhi Police in the Company’s complaint in relation to the criminal offences by Mr. Grover, his wife Madhuri Jain and other family members. For the last 15 months, the Company has been facing a vicious and malicious campaign run by Grover against the Company, the board and its employees. The registration of the FIR is a step in the right direction which unearths various suspicious transactions made by the family for their personal pecunary gains. This FIR will now enable the Law enforcement agencies to investigate deeper into the criminality and bring the culprits to books. We have full faith in our country's judicial and law enforcement systems and are optimistic that this case will reach its logical conclusion. We will continue to extend all possible cooperation to the authorities. MZM legal is advising us (BharatPe) on the criminal case.”
Key callouts from FIR:
FIR has been registered against the involved parties on 8 counts of serious cognizable criminal offences. The sections are as follows:
406 (Punishment for criminal breach of trust)
408 (Criminal breach of trust by clerk or servant)
409 (Criminal breach of trust by public servant, or by banker, merchant or agent)
420 (Cheating and dishonestly inducing delivery of property)
467 (Forgery of valuable security, will, etc.)
468 (Forgery for purpose of cheating)
471 (Using as genuine a forged document or electronic record)
120B (Punishment of Criminal Conspiracy)
THEREBY, CAUSING A LOSS TO THE TUNE OF APPROX. LNR. 81.28 CRORES.
The accused persons named in the FIR are as follows:
Accused No. 1, Mrs. Madhuri (Jain) Grover
Accused No. 2, Mr. Ashneer Grover
Accused No. 3, Mr Deepak Gupta, ex-“Head-Administration/Logistics & Fulfilment” or “Head of Procurement – also their brother-in-law.
Accused 4 & 5: Members from Madhuri Jain’s family (Shwetank Jain & Suresh Jain)
Accusations against the involved parties:
Illegitimate payments to the tune of INR 7.6 crores to bogus HR consultants (having nexus with the accused) on the basis of eighty-six (86) false and forged invoices.
Inflated and undue payments through passthrough vendors connected to the Accused persons to the detriment of the Complainant Company.
Input Tax Credit and payment of penalty to GST Authorities (to the tune of INR 1.66 Crores) – sham transactions and embezzlement of INR 71.76 Crores.
Dishonest and illegal payments to travel agencies connected to Accused persons basis false and fabricated invoices for services already availed from genuine providers.
Personal enrichment through reimbursements by Accused No. 1 using self-created fake & forged invoices.
Destruction of evidence by Accused No. 1 (Madhuri Jain)
If convicted, Grover and Madhuri and others can face upto anything between 10 years till life imprisonment.
EOW now has the power to arrest all the accused.
Quote from MZM Legal who is advising BharatPe on the criminal case.
“After a detailed complaint was filed with the EOW, a thorough inquiry was conducted with voluminous documents on record. We are glad that cognizance has been taken and an FIR is now registered against Ashneer, his wife and others.” - Zulfiquar Memon, Managing Partner, MZM Legal LLP
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