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BharatPe co-founder stopped from leaving India at Delhi Airport
Photo courtesy: Instagram/Ashneer Grover

BharatPe co-founder stopped from leaving India at Delhi Airport

| @indiablooms | 17 Nov 2023, 10:32 pm

New Delhi: Ashneer Grover, co-founder of BharatPe, and his wife Madhuri Jain were detained at the Indira Gandhi International Airport on Thursday on the basis of a lookout circular (LoC) issued against them, ET reported.


The Grovers were en route to New York, ET reported citing sources.

The Economic Offences Wing (EoW) of the Delhi Police requested the issue 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.

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