FIR against Ashneer Grover for criminal conspiracy, forgery and breach of trust

The former managing director of BharatPe, Ashneer Grover, is currently in the limelight as the Economic Offences Wing (EOW) has recently registered an FIR (first information report) against him, his wife Madhuri Jain Grover, and several family members including Deepak Gupta, Suresh Jain, and Shwetank Jain.

Under eight categories of cognizable offences, FIR has been registered against the parties, including 409 (breach of trust by official, or banker, broker or agent), 420 (cheating and dishonest importation of goods), 467 (forgery of stocks, wills, etc.), 120B (criminal conspiracy).

“The complaint was received by the EOW and an investigation into the allegations was carried out. Based on the complaint and investigations conducted so far, it lays out prima facie offenses punishable under Sections 406/408/409/420/467/468/471/120B IPC (Indian Penal Code), "which reads.. .FIR copy, a." source told the Mint.



In the past six months, Grover has been convicted of five crimes. He is in a legal battle with BharatPe after allegations of financial irregularities surfaced in January 2022. In March last year, Grover was sacked from the company.

In December 2022, Delhi-based fintech unicorn filed a complaint against Grover’s family with the Delhi Police EOW, alleging fraud of Rs 81.28 crore, breach of trust, conspiracy, cheating, forgery and destruction of evidence. The same month, BharatPe also filed a civil suit in the Delhi High Court seeking over Rs 88.67 lakh as damages against Grover and his family under various heads.

He had filed an arbitration proceeding in Singapore to recover the restricted shares (1.4%) granted to Grover and to prevent him from using his founder title. In January this year, Koladiya sued Grover alleging that the shares were transferred in December 2018. Last month, co-founder Shashvat Nakrani sued Grover for "unpaid" shares.