BharatPe co-founder Madhuri Jain Grover ousted for using company’s fund for personal expense

New Delhi: Ashneer Grover-led BharatPe ousted Madhuri Jain Grover from the post of co-founder of the merchant payment company. The company removed Grover as she used the company’s fund for her personal expenses.

Wife of Ashneer Grover

It is to note that Grover who had been working as the co-founder of BharatPe is the wife of Ashneer Grover. According to the media reports quoting sources with direct knowledge of the matter, she used the fund of the company for her personal expenses such as beauty treatments, buying electronic items. Moreover, she went on a personal trip to US and Dubai on the company’s money.

It is alleged that she diverted funds by producing fake invoices from known or friendly parties. She even paid amounts to her personal staff using her husband’s company.

Official statement yet to come

However, there has not been any official statement issued by Ms Madhuri. Furthermore, BharatPe’s MD Ashneer Grover has also not said anything in public.

It is reported that a spokesperson of a company confirmed the development saying, ”We can confirm that services of Madhuri Jain Grover have been terminated in accordance with the term of her employment agreement.”

Besides the termination confirmation, the spokesperson denied revealing the reason for the removal of Madhuri from the co-founder’s post.

Couple misbehaves Kotak Mahindra Bank employee

Earlier in January, it was alleged that the couple misbehaved with an employee of Kotak Mahindra Bank over a phone call. The matter was reported to be of last year.

Due to the allegation, Ashneer Grover was sent on a leave of three months for using abusive language against the bank’s staff. However, he denied all allegations.