The City Headlines
Ludhiana, February 23
The BharatPe board has reportedly sacked the wife of Ashneer Grover for “misappropriation of funds”. Ashneer Grover has been the founder of the company and gained the limelight after becoming a part of the reality show Shark Tank.
As per the reports by Economic Times, Ashneer Grover’s wife Madhuri Jain was incharge of the funds since the year 2018. The assets of the company were valued at $2.8 billion. However, some financial inconsistencies were found during the investigation.
Some people aware of the matter reportedly said that Madhuri Jain used the funds for her personal benefits.
Te reports also suggest that Madhuri Jain has been notified of termination.
As per the reports, Ashneer Grover and his wife Madhuri Jain are on a leave from the company since January 19. Ashneer Grover also offered to resign from the board in the same month. However, he demanded the company to pay him Rs. 4,000 crore.
On February 10, Madhuri Jain also reportedly wrote to the BharatPe board of directors, that she never presented her resignation. This came after some media reports suggested that her resignation was accepted by the BharatPe board.
Madhuri Jain, in a letter, reportedly wrote that she was being used as a ‘pawn’ in the fight of the company’s shareholders.
