Scam After Scam!: Grovers Were Helped By Close Relatives To Siphon Off Money

Amongst the controversies that surrounded Ashneer Grover and his family, the latest that has come by is how the close relatives of Grover’s helped them to siphon off funds of BharatPe!

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Reports suggest that the admin head at BharatPe, Deepak Jagdishram Gupta who was Madhuri Jain’s close relative and allegedly involved in the misappropriation of funds and was also sacked. He was reporting directly to Madhuri Jain Grover.


They were allegedly involved in siphoning of 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.

According to media reports, Madhuri Jain herself received invoices for payments and forwarded them to the accounts team. These invoices were created by Shwetank Jain, who is her brother. According to BharatPe, Grover, his wife and their relatives were engaged in extensive misappropriation of funds and grossly abused company money “to fund their lavish lifestyles”.

“The Grover family and their relatives engaged in extensive misappropriation of company funds, including, but not limited to, creating fake vendors through which they siphoned money away from the company’s expense account and grossly abused company expense accounts in order to enrich themselves and fund their lavish lifestyles,” the company had said in an earlier statement.


Earlier Madhuri Jain Grover was sacked due to her alleged misappropriation of funds and Ashneer decided to quit right before the crucial Board meeting to grill him over misappropriation of funds.

According to sources, the Grovers 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.

The Grovers have also bought another property worth Rs 30-35 crore in an upscale condominium in Gurugram, said sources. Grover and his family live in Panchsheel Park, a posh locality in south Delhi. His huge 18,000 square foot mansion is reported to be worth at least Rs 25-30 crore.