The Delhi High Court Today (Oct 7) informed that fintech firm BharatPe, its former co-founder Ashneer Grover and his wife Madhuri Jain Grover have settled their disputes in a case of an alleged Rs 81 crore fraud. The parties urged Justice Chandra Dhari Singh to quash the FIR lodged against Grover and his family in light of the September 30 settlement agreement. Court listed the matter on October 8.
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NEW DELHI: The Delhi High Court was informed on Monday that fintech company BharatPe, along with its former co-founder Ashneer Grover and his wife Madhuri Jain Grover, have reached a resolution regarding their ongoing disputes in connection to an alleged Rs 81 crore fraud case.
Both parties have requested Justice Chandra Dhari Singh to quash the FIR that had been lodged against Grover and his family, citing a “settlement agreement” that was finalized on September 30.
However, the court has granted time to the counsel representing Grover and his family to submit an affidavit to ensure compliance with the terms outlined in the settlement agreement.
The next hearing for the matter has been scheduled for October 8.
Additionally, the court provided the State prosecutor with two days to submit a status report on the case.
Senior advocate Mohit Mathur, representing Grover and his family, informed the court that all disputes between Resilient Innovations Pvt Ltd, the parent company of BharatPe, and the accused individuals—Ashneer Grover, Madhuri Jain Grover, Deepak Jagdishram Gupta, Shwetank Jain, and Suresh Jain—had been amicably resolved.
On the other side, Resilient Innovations was represented by senior advocate Vikas Pahwa.
BACKGROUND
The case initially involved Grover, his wife, and others seeking the quashing of an FIR registered by the Economic Offences Wing (EOW) of the Delhi Police. The FIR charged them under several provisions of the Indian Penal Code (IPC), including “406 (criminal breach of trust), 420 (cheating and dishonesty), 467 and 468 (forgery), 471 (using forged documents as genuine), and 120B (criminal conspiracy).”
The allegations stemmed from claims made by BharatPe that Ashneer Grover and his family caused financial damages amounting to approximately Rs 81.3 crore. These alleged damages were tied to “illegitimate payments” made to bogus human resource consultants, inflated and unwarranted payments through vendors linked to the accused, and sham transactions involving input tax credit.
Additional claims included “illegal payments to travel agencies, forged invoices by Madhuri Jain Grover, and destruction of evidence.”
Madhuri Jain Grover, who had served as the Head of Controls at BharatPe, was dismissed from her role in 2022 after a forensic audit uncovered multiple irregularities. Shortly afterward, in March 2022, Ashneer Grover stepped down as CEO of the company.
Click Here to Read Previous Reports on Ashneer Grover
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