The founding member of Bharat pe is in troubled waters for the time being. It is important to note that according to the sources the Delhi High Court has refused to grant any kind of stay on the ongoing investigation against Mr Ashneer Grover. According to the investigation report which has been fired by the officers of the economic offences wing, he along with his wife are held guilty of misappropriation of funds. According to the contention of the petitioners the couple has been responsible for causing a total loss of rupees 81 crores to the parent company of Bharat pe which is a huge amount for the company at this particular stage.
The first information report has been fought against the couple and they appealed against such a complaint in order to prevent the Commencement of any investigation against them. A notice has also been filed for the arrest and it is only with the help of this aspect that the future course of action would be decided. The couple is also responsible for the mismanagement of the company and at the same point of time indulging in activities which have proved to be violative of the existing company law.
A detailed investigation is being undertaken by the officers of The Economic offences Department but also by the enforcement directorate and security and exchange Board of India. It is important to launch a strict action against them so that all the upcoming promoters get a lesson and do not become a part of these fraudulent activities that basically shake the confidence of the people. The couple was also held responsible for entering into different transactions. The matters associated with the affairs of the company have not been disclosed till yet and that is why the court did not find any reason to prevent the investigation because it was in the best interest of the country as a whole. The board of directors of the company have also given statements against the couple and this has complicated the matters against them and it has become difficult for them to come out of this.
According to the contention of the respondents, the efforts of the couple were responsible to increase the valuation from nothing to rupees 20000 crores in the year of 2023 and according to the content of the first information report No Crime has been committed by the couple at any cost. According to the content of the annual report of the company, all the records of the accounts were approved by the entire board of directors and they had no problem with it at all till a certain point of time. The couple has decided to file and appeal against the decision of the court and now the matter will go to the court.