BharatPe has sacked Madhuri Jain Grover who is the wife of the fintech firm’s co-founder and managing director Ashneer Grover. This decision comes over alleged financial irregularities and the company has cancelled ESOPs vested with her.
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Madhuri Jain Grover is alleged to have used company funds for personal beauty treatments, buying electronic items and family trips to the US and Dubai, a source revealed. Besides, she also allegedly paid her personal staff out of company accounts and produced fake invoices from known/friendly parties, they added.
Sources said that 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. Her family trips to the US and Dubai have been yet another major allegation on her. While an email sent to Jain Grover for comments remained unanswered, a company spokesperson confirmed the termination, PTI said.
”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.
The spokesperson did not give reasons for the termination. Her services were terminated effective February 22. Stock options vested with her have also been cancelled, the same has been detailed in the termination letter.
Her husband, Ashneer Grover was sent on a three-month leave following allegations of using abusive language against Kotak Mahindra Bank staff and fraudulent practices. He has denied all allegations
