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Business News/ Companies / People/  Delhi High Court orders BharatPe Co-founder Ashneer Grover, wife to provide 80 crore security for US travel

Delhi High Court orders BharatPe Co-founder Ashneer Grover, wife to provide ₹80 crore security for US travel

The court allows Ashneer Grover and his wife to travel to the US separately for their children's summer school, furnishing ₹80 crores as security. They must share travel information and stay details and refrain from creating third-party rights on BharatPe shares.

Ashneer Grover with wife Madhuri JainPremium
Ashneer Grover with wife Madhuri Jain

The Delhi High Court has directed BharatPe co-founder Ashneer Grover and his wife, Madhuri Jain Grover, to provide security of 80 crores before travelling to the United States. 

They must furnish the security by way of property and submit their Emirates Card to ensure they do not travel to the United Arab Emirates (UAE), as they hold “golden visas," as per Hindustan Times report.

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The court has allowed the couple to travel separately to the US for their children's summer school after consulting with the Economic Offences Wing regarding their travel conditions.

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According to the Hindustan Times report, they must share details of their stay, including hotel accommodations, travel plans, and phone numbers, with the court and the investigating agencies.

According to the court's schedule, Ashneer Grover will leave for the US on May 26 and return to India on June 14, while Madhuri Jain Grover will travel to the US on June 15 and return to India on July 1, as per the report in HT.

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Additionally, the court has directed the couple not to create any third-party rights on the shares of BharatPe that they hold. 

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The Economic Offences Wing previously objected to the couple's travel request, citing their ownership of properties abroad and potential flight risk. The couple is accused of committing an 81-crore fraud at the fintech firm, reported Hindustan Times.

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Published: 24 May 2024, 02:10 PM IST
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