![[BharatPe 81 Crore Fraud Case] Delhi High Court Quashes Lookout Circular Against Ashneer Grover, Wife Madhuri](https://i0.wp.com/lawchakra.in/wp-content/uploads/2024/10/image-29.png?resize=447%2C367&ssl=1)
The Delhi High Court today (12th Nov) has quashed a lookout circular against Ashneer Grover and his wife Madhuri, following the nullification of an FIR related to alleged fraud and forgery valued at Rs 81.3 crore. The couple had faced legal challenges after internal investigations by BharatPe led to accusations of financial misconduct.
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.
On 4th October, the Delhi High Court resolved a lawsuit between Bhavik Koladiya and Ashneer Grover through a mutual settlement. Koladiya received 15,000 shares, fulfilling the settlement terms. The court dismissed the case, noting no further obligations, except for a mutual non-defamation agreement. Koladiya previously co-founded BharatPe but left due to complications.
![[Bharatpe Fraud] Delhi HC Permits Former Founder Ashneer Grover, Wife Madhuri Jain to Travel to Doha and UK](https://i0.wp.com/lawchakra.in/wp-content/uploads/2024/09/image-2-1.jpeg?resize=447%2C367&ssl=1)
Justice Sanjeev Narula of the Delhi High Court has granted permission for former BharatPe MD Ashneer Grover and his wife, Madhuri Jain, to travel to the UK and Doha despite ongoing fraud allegations. Their travel is scheduled from September 28 to October 20, as they face an investigation into misappropriated funds totaling Rs 81 crores.
Today(on 22nd August), The Delhi High Court appointed a sole arbitrator to resolve the dispute between Ashneer Grover and BharatPe on allegations of confidentiality breaches. The court ruled in favor of BharatPe, proceeding the arbitration under the Delhi International Arbitration Centre. The involvement of a sole arbitrator is expected to bring clarity to the contentious issues.
The Delhi High Court directed Ashneer Grover and his wife to provide a Rs 80 crore property security before traveling to the US. They were also prohibited from visiting UAE due to their golden visa status. The Economic Offences Wing opposed their travel request, citing concerns of owning properties abroad and being a flight risk. They are accused of a fraud worth Rs 81 crore at BharatPe.
The Delhi High Court granted Ashneer Grover and Madhuri Jain Grover permission to travel to the United States amidst ongoing legal proceedings. Specific travel dates were provided for each individual, and the Delhi Police was directed to submit their recommendations for imposed conditions. The couple faces allegations of fraud from fintech firm BharatPe.
Today(on 15th March),, Justice Prathiba M. Singh of the Delhi High Court ordered Ashneer Grover to remove recent allegations against BharatPe and its chairman, Rajnish Kumar. The court also directed The Economic Times to retract articles about Grover’s letters to the RBI. Grover was fined Rs. 2 lakh for disobeying the court’s order and using inappropriate language on social media.
The Delhi High Court concluded Shashvat Nakrani’s appeal against the ruling pertaining to the sale of shares to Ashneer Grover. The court expedited trial proceedings, establishing deadlines for framing issues and recording evidence under a single judge’s supervision. Despite this, the legal matters remain unresolved. Nakrani’s plea to restrain Grover from selling or transferring shares was originally dismissed, sparking the ongoing dispute.