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Delhi High Court has given BharatPe’s former MD and co-founder Ashneer Grover and the company’s former Head of Controls Madhuri Jain, three more weeks to respond to BharatPe’s civil suit which alleged Grover and his family of misappropriating company funds.
The court also directed Grover’s lawyer “to inform his client to maintain decorum in his social media post and communications to BharatPe.” While Ashneer’s lawyer argued that Grover has not defamed the company but has made post about the officers. The court remarked that “defaming the senior officers is equal to defaming the company.”
Grover’s lawyer said in the court that Grover and Jain were not allowed to enter BharatPe’s AGM (annual general meeting) held on December 31. The lawyer also added that his clients were threatened at the AGM.
The issue of pending disclosure and stay of transfer of assets by the defendants (Ashneer Grover and Madhuri Jain) was also discussed by the court. The next hearing on this matter will now be held on March 13, 2023.
Further, the court has also issued notice on an application filed by BharatPe, for all defendants (Grover and his four family members) to disclose and produce their bank account statements, since its likely that they have received the funds siphoned off from BharatPe in those accounts. Hence, Grover and family have to now furnish their bank statements to the court.
BharatPe declined to comment on these developments.
Criminal case
BharatPe has filed a criminal case against former MD and co-founder Ashneer Grover and his wife Madhuri Jain along with three other family members, including Madhuri’s brother Shwetank Jain, father Suresh Jain and her brother-in-law Deepak Gupta.
Madhuri Jain was BharatPe’s Head of Controls and Deepak Gupta was the company’s manager of sales and operation, administration & facilities. Shwetank Jain and Suresh Jain were both vendors of BharatPe.
The company has sought ₹88.6 crore in damages from the accused; this includes a monetary loss of ₹83 crore allegedly incurred by the company because of the misappropriation of funds and ₹5 crore for the loss and injury caused to the brand and applicable taxes.
In February, Madhuri Jain was fired from her post after the company discovered financial irregularities. Later in March, Ashneer Grover, too, quit the firm after months of a scuffe with the board. Close on the heels, the company removed him from the post of co-founder and managing director.
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