BharatPe sacks Ashneer Grover’s spouse Madhuri Jain, cancels ESOPs

BharatPe has sacked Madhuri Jain Grover, spouse of the fintech agency’s co-founder and managing director Ashneer Grover, over alleged monetary irregularities and cancelled ESOPs vested together with her.

Madhuri is alleged to have used firm funds for private magnificence remedies, shopping for digital gadgets and household journeys to the US and Dubai, sources with direct information of the matter mentioned.

Besides, she additionally allegedly paid her private workers out of firm accounts and produced faux invoices from recognized/pleasant events, they added.

While an e mail despatched to Madhuri for feedback remained unanswered, an organization spokesperson confirmed the termination.

“As per your query, we can confirm that services of Madhuri Jain Grover have been terminated in accordance with the terms of her employment agreement,” the spokesperson mentioned.

The spokesperson didn’t give causes for the termination.

Sources, nevertheless, mentioned motion follows an exterior audit commissioned by BharatPe board to look into the conduct of Grovers.

Stock choices vested with Madhuri have additionally been cancelled, they mentioned including the alleged monetary irregularities have been detailed within the termination letter.

Her husband was despatched on a three-month go away following allegations of utilizing abusive language in opposition to Kotak Mahindra Bank workers and fraudulent practices. He has denied all allegations.