Ashneer Grover responds to fake backdated invoices charge, declares to be "Last Man Standing"

Former BharatPe CEO and co-founder, Ashneer Grover, has spoken out in response to allegations stemming from an investigation by the Economic Offences Wing (EOW) regarding unexplained payments to purportedly fake human resource consultancies. The EOW's probe pointed to transactions involving Grover, his wife Madhuri Jain Grover, and her family members, using backdated invoices to transfer funds from BharatPe's accounts for commissions related to recruitment work.

A status report filed by the agency in the Delhi High Court disclosed that approximately ₹7.6 crore was disbursed to alleged fake Human Resources consultancies, with ₹1.66 crore paid as a penalty to GST authorities, and an additional ₹71.76 crore allegedly siphoned off through fictitious transactions, bringing the total under scrutiny to over ₹81 crore.

In response to the investigation, Ashneer Grover, in a defiant post on social media platform X (formerly Twitter), proclaimed himself to be the "last man standing" amidst challenges from BharatPe, Sequoia Capital, journalists, and what he referred to as "Twitter judges." Grover criticized Sequoia Capital, suggesting the firm had concluded its operations in India. He made several claims, asserting that BharatPe had not received any relief in cases against him, auditors found no fraud, and the Income Tax department confirmed the payment of all due taxes.

Grover also highlighted statements from the EOW indicating an ongoing investigation and responses from the Income Tax Department stating his funds were appropriately taxed. The entrepreneur further emphasized that BharatPe's board had ratified all transactions involving the only "related party," Madhuri Jain, and disclosed that he had abstained from the relevant board meeting.

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">I’ll be last man standing long after ‘BharatPe’ , Sequoia (oh sorry they already wrapped up in India), 2 takke ke anpadh press vaale and ‘Twitter’ judges are gone ! Mark my words !!<br><br>Le Honourable HC : FIR quashing admitted and being heard. Not a single relief to BharatPe in… <a href="https://t.co/WV0Hf3JurE">pic.twitter.com/WV0Hf3JurE</a></p>&mdash; Ashneer Grover (@Ashneer_Grover) <a href="https://twitter.com/Ashneer_Grover/status/1724790703396708427?ref_src=twsrc%5Etfw">November 15, 2023</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>