BharatPe issue investigation will be done by Ministry of Corporate Affairs

BharatPe issue investigation – The national government has agreed on to inaugurate a scrutiny into suspected corporate governance disappointments at BharatPe, a fintech startup. 

According to a preliminary study by A&M, Grover’s wife Madhuri Jain, her brother Shwetank Jain, and brother-in-law Deepak Jagdishram Gupta were allegedly implicated in irregularities with hiring and false invoicing.

BharatPe issue investigation

According to the inquiry, five employees were hired through various consultants and were paid recruiting costs, despite the fact that the employees denied being employed through the consultants named on the invoice.
 
In reaction to the disclosure, Grover issued a legal notice, urging the bank to respond. Grover’s public relations problem was aggravated when details of a previous disagreement with Sequoia India, the company’s largest shareholder, went public.

In response, the fintech firm stated that it reserves the right to take action in reaction to the investigation’s findings. 
 
“Minutes after collecting the agenda for the upcoming Board meeting, Ashneer Grover relinquished as BharatPe’s Managing Director and Board Director, which encompassed the resignation of a PwC report on his procedure and consideration of steps based on it.”