BharatPe has sacked Madhuri Jain Grover, wife of the fintech firm's co-founder and managing director Ashneer Grover

By H.JanGra Feb 23, 2022

"Reasons for termination are misappropriation  of funds and authorisation of inflated bills, among other things," said  one of the sources

Jain was called for an interaction  by BharatPe's lawyers on Saturday to clarify these allegations

Ms Madhuri is alleged to have used company funds for personal beauty  treatments, buying electronic items and family trips to the US and Duba

Besides, she also allegedly paid her personal staff out of company  accounts and produced fake invoices from known or friendly parties

Sources said action follows an external audit commissioned by BharatPe board to look into the conduct of Grovers.

Stock options vested with Ms Madhuri have also been cancelled and the alleged financial irregularities have been detailed in the  termination letter.

Her husband was sent on a three-month leave following allegations of  using abusive language against Kotak Mahindra Bank staff and fraudulent  practices. He has denied all allegations.