BharatPe Controversy Deepens, Company Asks Not To Speculate

New Delhi, Feb 4: BharatPe controversy has deepened in the past weeks, with multiple speculations growing against company founder Ashneer Grover and his wife Madhuri Jain. As per multiple media reports, it has been found that Grover's wife and brother-in-law had generated fake invoices and other inconsistencies with recruitment.

In lieu with the rising speculations, the company has issued a statement, brushing aside unspecified allegations. BharatPe founder went on temporary leave after an audio clip leaked where he's allegedly abusing an employee of Kotak Mahindra Bank. The company, though, has commissioned an independent investigation by Alvarez and Marsal (A&M) into the matter.

"We are deeply pained that the integrity of the BharatPe board or individual board members is being questioned time and again through misrepresented facts and baseless allegations. The Board in all its actions has followed due process in the best interest of the company. We would urge that the confidentiality and integrity of the Governance review and board meetings is maintained by all," the company released its statement on Friday.

BharatPe further stated, "We request everyone, including the media, to show restraint and allow the governance review to take place in a thorough manner. The Board is yet to receive any interim or final report of the review."

Other than the audio clip controversy, the company has also been embroiled with allegations of fraud and poor work culture. Grover has claimed that he is being "arm-twisted" into going on leave amid public backlash. Grover has hired three separate law firms to fight with investors to either bring him back to head BharatPe or give him an exit with Rs 4,000 crore.