BharatPe Fires Ashneer Grover's Wife Madhuri Jain Over Financial Fraud Charges

New Delhi: Indian fintech company Bharat Pe has fired the firm's controller -- Madhuri Jain -- who is the wife of Managing Director and Shark Tank Judge Ashneer Grover over the charges of misappropriation of funds.

She was holding the company's finances charge since October 2018 which valued at 2.8 billion dollars.

Her name also appeared in the preliminary inquiry by Alvarez and Marsal (A&M) investigation that connected her to the financial mismatch in the company.

According to reports, one of the people getting aware of the matter stated that it was found that there were certain irregularities with the company's finance and evidence suggest that the money has been used for personal buying.

He further asserted that this is also connected with the audit going on at present but the final investigation report copy is not yet submitted in front of the company's board.

According to reports, on Tuesday, BharatPe has sent a letter to Grover's wife notifying her of immediate termination.

Another person knowing the case informed that the company is not treating Madhuri as prime managerial personnel, therefore firm's authorities have taken the immediate call of firing her even ahead of the final report copy being tabled for the review by the board.

The matter came to light after Madhuri had written a letter to the Board of Directors of BharatPe, alleging that she never submitted any resignation which was accepted by the company.

In the letter, she mentioned that nothing like resignation has been tendered by her and she is completely unaware of it. She called for a probe as in the fight among shareholders she has been used as a pawn.

Reportedly both Madhuri and her husband Ashneer Grover have been on leave from the company since January 19. In January BharatPe Founder Grover had offered his resignation demanding 4 crore to be paid to him following the resignation but then he immediately took back his decision.

As per the findings of the initial investigation regarding the company's funds irregularities, Madhuri, her brother Shwetank Jain and her brother-in-law named Deepak Jagdishram are linked with the financial inconsistencies.

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