BharatPe fraud: Ashneer Grover, Madhuri Jain stopped at Delhi airport

BharatPe co-founder Ashneer Grover and wife Madhuri Jain were stopped at the Delhi international airport on late Thursday following a look out circular issued against the two on the behest of Economic Offence Wing (EoW), according to an Economic Times report. The two were traveling to New York in the US, the report added.Grover took to X explaining the incident and said he had not received any communication from the probe agency till Friday."I was going to US from 16-23 November. At immigration they said LoC laga hua hai sir - EOW se check kar ke batate hai [Look out notice has been issued and will update you after checking with EOW]. I found it strange as have travelled 4 times internationally since FIR filed in May - never been a problem and I had not even been summoned once. Flight left in meantime anyways - EOW folks directed Immigration to let us out so that we can return home," he said. The 41-year-old entrepreneur said he had "not received any communication or summon from EOW since FIR in May till 8 AM today 17 morning (7 hours after returning from airport)."Grover, however, confirmed that the EOW summon was delivered home on Friday morning. "Will cooperate as always," he added. Grover, along with his relatives, is accused of using fake invoices to funnel over Rs 81 crore for recruitment work.

After Delhi Police's Economic Offences Wing (EOW) uncovered that Ashneer Grover and his wife Madhuri Jain Grover were allegedly involved in generating backdated invoices to channel funds at BharatPe, CapitalMind founder and CEO Deepak Shenoy and Ashneer Grover traded barbs at each other on Thursday.In May this year, the EOW had registered an FIR against former BharatPe Managing Director Ashneer Grover for alleged cheating and fraud of Rs 81 crore.“Grover apparently siphoned out funds to his family in the name of recruitment services -- a well-known mechanism to take money out. So stupidly done too -- they backdated invoices with bank accounts that didn't even exist at that date,” Shenoy posted on X.He also said that more than Rs 53 crore was reportedly paid to "sham" companies, owned or connected to Grovers.“These companies didn't even file GST (though they charged it!) which is what brought the whole house down. I wonder if investors in startups have at least a policy saying we'll do an annual independent review of recruitment-related payments and links to founders... this kind of 'taking it out' is fairly common," the Capital Mind CEO posted on X.Ashneer Grover replied, saying he will be the last man standing long after ‘BharatPe’.