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Synopsis

Ashneer Grover, the co-founder and former Managing Director of BharatPe, along with his wife Madhuri Jain Grover, has approached the Delhi High Court challenging the Look Out Circulars (LOC) issued against them.

The matter came before Justice Subramonium Prasad, who adjourned the case till May 8, citing the "nascent stage" of the investigation.

During the hearing, Justice Prasad remarked orally, "It is too hot in the day for this Court to intervene now. Wait for some time. They [Delhi Police] will take some time to investigate. We will have it in May. By that time, you may also make amends; your friends may be back."

The court noted that the Grovers' plea challenging the Economic Offences Wing's (EOW) FIR is also pending before the High Court.

Justice Prasad, however, indicated that the Grovers' request to travel abroad for two days could be considered by the concerned authorities.

Advocate Giriraj Subramanium represented the Grovers and argued that they have cooperated with the investigation, highlighting multiple proceedings against them.

The Look Out Circulars were issued against the Grovers at the behest of the Economic Offences Wing (EOW) of the Delhi Police, which is investigating allegations of fraud brought forward by fintech firm BharatPe.

Ashneer Grover and Madhuri Jain Grover, formerly associated with BharatPe, left the company in early 2022. In December 2022, BharatPe filed a complaint against the couple, leading to the Delhi Police's Economic Offences Wing registering an FIR in May 2023.

BharatPe has accused the Grovers of fraud amounting to nearly Rs. 81 crore. The FIR filed by the police includes charges under the Indian Penal Code related to cheating, criminal breach of trust, forgery, and criminal conspiracy.

Case Title: Ashneer Grover v. Union of India & Ors. (another connected matter)