US Travel Costs ₹80 Crore Bond For Ashneer Grover, Madhuri Jain As Ordered By Delhi High Court

The Delhi High Court has issued a directive requiring Ashneer Grover, co-founder of BharatPe, and his wife Madhuri Jain Grover to provide a security deposit of ₹80 crore before their intended travel to the United States. The court specified that this security must be in the form of property, while also instructing the couple to surrender their Emirates Card to prevent any visits to the United Arab Emirates, where they hold a "golden visa."

The court has granted permission for the couple to travel to the US separately for their children's summer school activities. However, they must adhere to strict conditions, including sharing detailed itineraries and contact information with both the court and investigating authorities. Additionally, the couple has been barred from encumbering their BharatPe shares or transferring any third-party rights to them.

Ashneer Grover is scheduled to depart for the US on May 26, returning to India on June 14, while his wife will travel on June 15 and return on July 1. The decision comes after objections from the Economic Offences Wing (EOW), citing concerns that the couple may be a flight risk due to their alleged involvement in an ₹81-crore fraud at the fintech firm.

The court's ruling underscores the ongoing legal battles surrounding BharatPe and its co-founders, amidst allegations of financial impropriety. The case has attracted significant attention, reflecting broader concerns about corporate governance and accountability within India's burgeoning fintech sector.

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The outcome of this legal saga will undoubtedly be closely watched by industry stakeholders and regulatory authorities alike, as they seek to uphold transparency and integrity in the country's rapidly evolving financial landscape.