Amid allegations of syphoning company funds, Ashneer Grover and spouse paid ₹8.2 crore in advance tax

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Bengaluru, March 9As BharatPe alleged that Grover family engaged in massive appropriation of company funds, sources close to the development told BusinessLine that company’s former co-founder and MD Ashneer Grover along with his wife has paid a total of ₹8.2 crore in advance tax.

The source added that ₹7.1 crore was paid for Ashneer Grover and another ₹1.1 crore for his wife and BharatPe’s former Head of Controls, Madhuri Jain.

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

In response, Grover said that he is appalled at the personal nature of the company statements but not surprised. “It (the company’s statement) comes from a position of personal hatred and low thinking. I would also want to learn who among Amarchand, PWC and A&M has started doing audits on ‘lavishness’ of one’s lifestyle. The only thing lavish about me is my dreams and ability to achieve them against all odds through hard work and enterprise,” he added. 

‘No longer founder or a director’

These statements came on the heels of the resignation of Grover, in which he claimed being “forced to bid adieu to a company of which he is a founder.” On the other hand, BharatPe’s statement which came on March 2, said that as a result of his misdeeds, Grover is no longer “an employee, a founder, or a director of the company.” The company did not comment on whether the board decided to accept Grover’s resignation or terminated him.

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