Amid the tensions within the  BharatPe leadership, the company sacked Co-Founder Ashneer Grover’s wife Madhuri Jain, who was operating as the Group Head of Controls of the company since 2018. The decision was made on account of the allegation against her regarding monetary fraud. 

According to a report carried out by the Economic Times, a source well aware of the incident said that Jain was terminated for “misappropriation of funds” for personal purchases. According to the ET source, this surfaced during the current audit going on. However, the final copy of the same is yet to be tabled to the board. 

The news comes weeks after Ashneer Grover reportedly asked for Rs. 4,000 crores from the investors if they wanted him to leave the company, citing the investigations going on against him and his wife. 

Commenting on the whole crisis, Board Chairman Rajnish Kumar told Moneycontrol that he expected Ashneer to act in a more mature way throughout this episode. He said, “I agree that Ashneer should have shown maturity (in the BharatPe episode)…The whole strategy of Ashneer is to make out a case that Governance review is biased against him. He is creating documentation for that, nothing else.” 

On the other hand, weeks ago, Ashneer accused  CEO Suhail Sameer of the episode stating that he was conspiring against him by forming a lobby with the investors. Ashneer said that Suhail, who was hired by him had become a “puppet” at the hands of the investors.