New Delhi: Madhuri Jain, BharatPe’s controller and co-founder Ashneer Grover’s wife, has been sacked over misappropriation of funds and money siphoning.
The finances of BharatPe, valued at $2.8 billion, is being managed by Madhuri since October 2018.
Her name cropped up in the ongoing probe by Alvarez & Marsal into financial irregularities in the fintech start-up.
Madhuri was sent on leave on January 20, a day after Ashneer announced he was going on a temporary leave.
“It seems that the company has found certain financial irregularities in the company’s books and has strong proof on funds being ‘used’ for personal purchases… This is also linked to the audit which is currently ongoing but the final copy is not yet tabled in front of the board,” Economic Times quoted a source as saying.
Madhuri hit back at the company and alleged that CEO Suhail Sameer, co-founders Bhavik Koladiya and Shashvat Nakrani indulged in ‘drunken orgies’.
“Congrats @SuhailSameer14 @BhavikKoladiya and Shashvat Nakrani. Now you may indulge in your ‘drunken orgies’ without having to wait for me (righteous lady) to leave office. Slow clap!! And these are the people @SuhailSameer14 sitting on Governance Review and passing judgement on me !” she tweeted.
Madhuri tweeted a video of people drinking and smoking in the office adding. “And drink and smoke in office and burn the place down ! For you have no pain for what @Ashneer_Grover built single handedly and you snatched!!” she wrote.
Madhuri wrote to BharatPe’s board on February 10 claiming that she never resigned, as was accepted by the company.
“Neither did I have any information about the same (alleged resignation), nor have I tendered any such resignation,” she stated.
Interestingly, Madhuri’s manager and husband Ashneer had offered for her resignation during a board meeting on January 19. However, he immediately took back the offer termed it ‘spontaneous’.
