In the midst of the probe against BharatPe, the company has terminated the services of Madhuri Jain Gover, the Head of Controls and wife of Co-founder Ashneer Grover.
"Reasons for termination are misappropriation of funds and authorisation of inflated bills," an insider told Moneycontrol. Her name has reportedly also been involved in financial discrepancies at BharatPe.
A PTI report also suggests that Madhuri Jain Grover used the company's funds for personal beauty treatments, buying electronic items and family trips to the US and Dubai.
Meanwhile, Ashneer Grover has been sent on a three-month leave following allegations of using abusive language against Kotak Mahindra Bank staff and fraudulent practices. He has, however, denied all allegations.?
"What have I done to resign? This is like execution before trial. I am the MD (managing director). I run the company. If the board thinks I don¡¯t need to be the MD and someone else should run the company, please put my Rs 4,000 crore on the table and take the key away from me", he told?Money Control.
"If you want to buy me out, you want to buy me out at the fair market value, right? In my view, the fair market value is $6 billion. Either I¡¯ll run the company or they buy me out, there is no third option."
(For more news and updates?from the world of?celebrities?from?Bollywood?and?Hollywood, keep reading?Indiatimes Entertainment, and let us know your thoughts on this story in the comments below.)