INSUBCONTINENT EXCLUSIVE:
BharatPe has sacked co-founder Ashneer Grover's wife Madhuri Jain Grover
In another
dramatic turn in the ongoing BharatPe controversy where corporate governance issues and alleged irregularities have come to the fore, the
fintech firm on Wednesday sacked co-founder Ashneer Grovers wife Madhuri Jain Grover
BharatPe today sacked Madhuri Jain Grover, wife of the fintech firm's co-founder and managing director Ashneer Grover, over
alleged to have used company funds for personal beauty treatments, buying electronic items and family trips to the US and Dubai, sources
with direct knowledge of the matter were quoted by PTI.Besides, she also allegedly paid her personal staff out of company accounts and
company spokesperson confirmed the termination
"As per your query, we can confirm that services of Madhuri Jain Grover have been terminated in accordance with the terms of her employment
agreement," the spokesperson said.While the spokesperson did not specify any reason behind the decision, PTI quoting sources said that the
action follows an external audit commissioned by BharatPe board to look into the conduct of Grovers.Stock options vested with Mr Grover's
wife have also been cancelled, they said adding the alleged financial irregularities have been detailed in the termination letter.Her
husband Ashneer Grover was sent on a three-month leave following allegations of using abusive language against Kotak Mahindra Bank staff and
of its internal process and systems was being conducted
Through its legal firm Shardul Amarchand Mangaldas, the company had appointed Alvarez and Marsal to conduct the audit.The development had
come just days after Ashneer Grover took voluntary leave till March-end
Mr Grover had taken the decision to proceed on leave on December 19, 2021 after an audio clip had exposed a huge fight between him and the
She was the Head of Controls in BharatPe.
