BharatPe controversy: Ashneer Grover's brother-in-law Deepak Gupta arrested by EOW

BharatPe controversy: Deepak Gupta, brother-in-law of former BharatPe MD Ashneer Grover, has been arrested by the Economic Offences Wing (EOW) of the Delhi Police in connection with allegations of financial misconduct involving the fintech firm. 

He is currently detained at Mandir Marg police station and is set to be presented in court today, according to media reports.

BharatPe alleges that Grover and his family members have incurred losses of approximately Rs 81.3 crore through unauthorised payments. The complaint, originally filed by BharatPe in December 2022, targets five individuals, including Ashneer Grover, his wife Madhuri Grover, and other family members.

Deepak Gupta, who is married to Madhuri Grover’s sister, was taken into custody on the night of September 19. Madhuri Grover had previously been dismissed from her position as Head of Controls at BharatPe.

Related arrests in fraud case

The EOW filed an FIR in May 2023 against Ashneer Grover, Madhuri, and their relatives, including Deepak Gupta, linking them to the alleged fraud. In a related development, the EOW arrested Amit Kumar Bansal last month for his involvement with fictitious companies that allegedly received Rs72 crore from BharatPe's directors between 2019 and 2021.

BharatPe claims that the Grover family orchestrated significant financial losses through various fraudulent activities, including inflated payments to non-existent human-resource consultants, manipulation of input-tax credits, illegal payments to travel agencies, and other dubious financial practices.

The investigation continues as authorities seek to uncover the extent of the alleged misappropriation of funds.