Ashneer Grover, co-founder and managing director of BharatPe, is being investigated for for fraud.
After appearing on Shark Tank India, he has become a well-known figure on television.
Shark Tank is a reality television show that airs Ashneer Grover of India is in a pickle.
Under suspicion of fraud, BharatPe’s co-founder and managing director is likely to be sacked from the company.
BharatPe has recruited a new law firm and is undertaking an investigation into the situation, according to a report in Live Mint. The article cites two people who were involved in the procedure. The investigation’s findings are due in two months.According to the daily, Ashneer’s wife, Madhuri Jain, who is the head of controls at BharatPe, has also been fired.
Before joining BharatPe, Madhuri ran a fashion store. “The company did look into employing a qualified CFO (chief financial officer) at times,” the insider said, “but Grover turned down that option.”
BharatPe, on the other hand, denied firing 15 staff. “At this time, the board of BharatPe has not terminated the services of any employee.” Any reports of a termination are false and unfounded. The board is committed to a rigorous and independent audit procedure. Until the audit is completed, no action has been taken or will be taken. In a statement, the corporation added, “We again encourage the media not to speculate ahead of the report and draw a judgement based on uneducated information.”
Ashneer is one of the seven’sharks’ on Sony Entertainment Television’s new show Shark Tank India, which premiered in December. Other sharks on the show include Peyush Bansal of Lenskart, Namita Thapar of Emcure Pharmaceuticals, Ghazal Alagh of MamaEarth, Anupam Mittal of Shaadi.com, Aman Gupta of boAt, and Vineeta Singh of SUGAR Cosmetics.