shot-button
Ganesh Chaturthi Ganesh Chaturthi
Home > News > India News > Article > BharatPe sacks Ashneer Grovers wife for fake invoices using company money for beauty treatment

BharatPe sacks Ashneer Grover’s wife for fake invoices, using company money for beauty treatment

Updated on: 24 February,2022 08:01 AM IST  |  New Delhi
Agencies |

While a company spokesperson confirmed the termination, sources with direct knowledge of the matter said BharatPe has cancelled all the 244 unvested and 56  vested employee stock options (ESOPs)

BharatPe sacks Ashneer Grover’s wife for fake invoices, using company money for beauty treatment

Madhuri Grover Jain with BharatPe co-founder and husband Ashneer

BharatPe has sacked its head of controls Madhuri Jain Grover, wife of embattled co-founder Ashneer Grover, for alleged financial irregularities ranging from producing fake invoices to billing the company for personal beauty treatment and trips abroad.


While a company spokesperson confirmed the termination, sources with direct knowledge of the matter said BharatPe has cancelled all the 244 unvested and 56 
vested employee stock options (ESOPs).


Madhuri Grover did not immediately respond to an email sent seeking her comments. She was last month sent on leave within days of her husband announcing a three-month leave of absence following allegations of using abusive language against Kotak Mahindra Bank staff and fraudulent practices. 


Ashneer Grover has denied all allegations. BharatPe engaged risk advisory firm Alvarez and Marsal to conduct a governance review.

Sources said that the review found that Madhuri Grover allegedly shared confidential information that was used by her father and brother to create and raise invoices on the company under the camouflage of certain third parties.

She is alleged to have billed the company for personal expenses including those towards ‘laser genesis and clearlift’ face treatment in April 2021 as well as televisions (a LED TV and a Sony Bravia 65-inch) and a fridge for her residence. 

“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,” a BharatPe spokesperson said.

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever

"Exciting news! Mid-day is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest news!" Click here!

Register for FREE
to continue reading !

This is not a paywall.
However, your registration helps us understand your preferences better and enables us to provide insightful and credible journalism for all our readers.

Mid-Day Web Stories

Mid-Day Web Stories

This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy. OK