Delhi High Court Sets Conditions for Ashneer Grover and Madhuri Jain’s Overseas Travel
In a significant development, the Delhi High Court has imposed stringent conditions on BharatPe co-founder Ashneer Grover and his spouse, Madhuri Jain Grover, regarding their travel abroad. The court has mandated the couple to deposit a security amounting to INR 80 crore for their overseas travel, amidst ongoing allegations of fraud amounting to INR 81 crore at BharatPe.
Security Deposit Requirement
Justice Subramonium Prasad, presiding over the case, has directed Ashneer Grover and Madhuri Jain Grover to furnish a security deposit of INR 80 crore in the form of property. This measure aims to secure the interests of stakeholders amidst the legal proceedings surrounding the alleged financial irregularities.
Emirates Card Surrender
Furthermore, the Delhi High Court has ordered the couple to surrender their Emirates Card to prevent any potential attempts to flee to the UAE, especially considering their status as golden visa-holders. This precautionary measure underscores the court’s commitment to ensuring the presence of the accused during the course of the investigation and legal proceedings.
Restrictions on Share Transactions
Ashneer Grover and Madhuri Jain Grover have also been prohibited from creating any third-party rights on the shares of BharatPe that they own. This restriction aims to prevent any unauthorized disposal of assets that could impede the restitution process in the event of adverse legal findings.
Travel Arrangements and Monitoring
Despite objections from the Economic Offences Wing (EOW), the Delhi High Court has granted permission for the couple to travel to the US separately for their children’s summer school activities. However, the court has stipulated specific travel dates for each spouse, ensuring that one of them remains in India as a “mortgage” while the other travels abroad.
Ashneer Grover is scheduled to depart for the US on May 26, returning on June 14, while Madhuri Jain Grover will travel on June 15, returning on July 1. These arrangements seek to balance the personal obligations of the couple with the imperative of legal oversight.
Navigating Legal Challenges
The Economic Offences Wing had raised objections to the overseas travel requests, citing concerns about the couple’s potential flight risk and their ownership of properties abroad. The ongoing probe into allegations of fraud against Ashneer Grover and Madhuri Jain Grover underscores the complexity of the legal landscape they navigate.
As investigations continue into the embezzlement allegations stemming from BharatPe, the imposition of a look-out circular against the duo underscores the gravity of the situation and the imperative of legal scrutiny.
