BharatPe Files Case Against Madhuri Jain
BharatPe files a case against Madhuri Jain former head of control who is also the wife of Ashneer Grover under section 420. They were expelled from their position over the misappropriation of funds.
BharatPe files a case against Madhuri Jain former head of controls and wife Ashneer Grovere former managing director of BharatPe under section 420. The matter will be heard in the Delhi high court on Thursday.
The development comes months after Grover, along with his wife, were expelled from their position by the BharatPe board over the misappropriation of funds.
Section 420 of the Indian Penal Code (IPC) deals with the offence of cheating and dishonestly inducing the delivery of property. The maximum punishment for the offence is imprisonment for up to seven years and a fine.
The couple were charged with the alleged misappropriation of funds. The firing was based on findings of an Alvarez and Marsal preliminary report, dated 24 January, that was submitted to the BharatPe board.
The preliminary investigations found irregularities related to vendor payments.
