Amid the fuss over Ashneer and Madhuri Jain Grover’s tussle with BharatPe, Deepak Jagdishram Gupta, who is Madhuri Jain's brother-in-law, worked as admin head and reported to head of controls Madhuri Jain, was allegedly involved in siphoning off funds via creating bogus vouchers and inflated vendor bills.
A total expenditure of Rs 53.25 crore was made towards at least 30 vendors that did not exist and BharatPe had incurred a loss of Rs 10.97 crore in those dealings. Madhuri Jain herself received payment invoices created by her brother Shwetank Jain and forwarded them to the accounts team.
BharatPe had earlier dismissed Madhuri Jain over allegations of financial irregularities during her tenure at the company as head of controls. On the other hand, Grover decided to quit right before the crucial Board meeting to grill him over misappropriation of funds.
According to BharatPe, Ashneer Grover, his wife and their relatives were engaged in extensive misappropriation of funds and grossly abused company money "to fund their lavish lifestyles".
The Grovers are said to have allegedly spent company money on expensive business class tickets for the entire family for vacationing abroad, beauty/skin treatments, buying electronic items, providing house staff salaries (driver/maids), 5-star dinners, etc.
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