Indian fintech firm BharatPe has lodged a case against its former head of controls Madhuri Jain Grover– wife of the ex-managing director (MD) and co-founder Ashneer Grover under section 420, Mint reported. 

The development came months after the company sacked Grover and his wife over the alleged misproportion of funds. 

Sources claimed that the matter would be heard in court on Thursday. 

Based on an Alvarez and Marsal preliminary report, BharatPe terminated Grover and Jain in February over the alleged misappropriation of funds. The investigation found irregularities related to vendor payments. 

Later the company onboarded PwC for further investigations. The company looked at BharatPe’s transactions and verified internal checks. 

A person who is aware of the entire development told Mint, “The investigation is now complete. The audit is done, and the report is finished. Based on the report, BharatPe has filed a criminal case for fraud of over ₹80 crore."

However, Grover denied commenting anything on the entire issue. 

BharatPe has been witnessing back-to-back exits of top-level executives in the past few months. In the recent round, Nehul Malhotra, BharatPe’s head of buy-now-pay-later (BNPL) product, PostPe, Vijay Aggarwal, chief technology officer (CTO), Rajat Jain, chief product officer (CPO) and Geetanshu Singla, vice president of technology have resigned from the company to pursue their entrepreneurial interests. 

“We confirm that Vijay, Rajat, Nehul and Geetanshu are moving on from BharatPe to pursue their entrepreneurial passions. They will continue to ensure a smooth transition of their role to the designated leaders. While it is difficult to part ways with these fantastic leaders, we are also proud of them for having taken the entrepreneurial plunge,” a BharatPe spokesperson told The Economic Times.

Prior to them Bhavik Koladiya, one of the co-founders and Satyam Nathani, head of technologies left the company.