BharatPe co-founder stopped from leaving India at Delhi Airport
New Delhi: Ashneer Grover, co-founder of BharatPe, and his wife Madhuri Jain were detained at the Indira Gandhi International Airport on Thursday based on a lookout circular (LoC) issued against them, ET reported.
The Grovers were en route to New York, as per sources familiar with the matter reported to ET.
The Economic Offences Wing (EoW) of the Delhi Police requested the opening of the LoC against the couple.
In June, the EOW filed a First Information Report (FIR) against the Grovers and other family members for alleged misappropriation of funds, causing losses amounting to Rs 81 crore to Resilient Innovations Private Limited, the company behind BharatPe.
A lookout circular is a letter issued by the authorities to verify if a traveller is sought by law enforcement agencies. Anybody subject to an LoC is prohibited from leaving the country.
In a post on microblogging site X, Grover confirmed the issue of the LoC against him and Jain and said they received the EOW summons on Friday morning. “…will cooperate as always,” he wrote.
“I was going to the US from 16-23 November. At immigration they said LoC laga hua hai sir - EOW se check kar ke batate hai (an LoC has been applied, we will check with the EOW and update you)," he wrote on X.
In May, the Economic Offences Wing (EOW) initiated a First Information Report (FIR) against Ashneer Grover, his wife Madhuri Jain, and certain family members.
The charges included the misappropriation of funds, leading to a financial loss of Rs 81 crore to Resilient Innovations Pvt Ltd, the entity operating BharatPe.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
Related Articles
CRR cut, AI ethics push, and SORR benchmark: Experts hail RBI’s pragmatic policy moves
Mumbai: The Reserve Bank of India (RBI) has kept the repo rate unchanged at 6.5% while the cash reserve ratio (CRR) has been slashed by 50 basis points to 4 percent, media reports said.
JP Morgan gives 'overweight' rating to Adani Group bonds
Mumbai: US investment bank JP Morgan has assigned an 'overweight' rating to four bonds issued by the Adani Group, citing the group's capacity to scale and grow through internal cash flows, which reduces the likelihood of credit stress.
LG Electronics files DRPH with SEBI; IPO size expected to be over RS 15,000 cr
Mumbai: South Korean electronics giant LG Electronics has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on Friday for the proposed public listing of its Indian business, according to a notification on the Bombay Stock Exchange (BSE).
De-dollarisation not on India's agenda; derisking domestic trade is: RBI Governor Shaktikanta Das
Mumbai: India has not initiated any steps towards de-dollarisation and is solely focused on mitigating risks to domestic trade from geopolitical uncertainties, Reserve Bank of India (RBI) Governor Shaktikanta Das clarified on Friday, media reports said.
Latest News
Centre clears 3% DA hike for govt staff, pensioners ahead of festive season
After backlash over ‘trophy stealing act’, Mohsin Naqvi hands Asia Cup to UAE board; BCCI seeks impeachment
Teen batter Vaibhav Suryavanshi slams record-breaking century in Australia
Priyanka Chopra looks stunning in traditionals during her visit to Kajol-Rani Mukerji's Durga Puja celebrations
