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 i
s 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’.