Madhuri Jain escalates battle with BharatPe on Twitter after sacking

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SME Times News Bureau | 24 Feb, 2022
Madhuri Jain Grover, former head of controls at BharatPe who has been sacked over charges of financial fraud, has escalated the battle via social media, posting questions over the board's handling of the situation.

Fintech platform BharatPe had sacked Madhuri Jain, the wife of its co-founder and Managing Director Ashneer Grover, on Wednesday for alleged financial irregularities during her tenure.

"The whole thing is a conspiracy. Why did @mickymalka and @HarshjitSethi of @Sequoia_India seek my resignation on 19.1.22 (same day Ashneer went on voluntary leave) ? The current review is clearly just an eyewash and means to an end. Why was @SuhailSameer14 taking instructions?," she tweeted.

"And these are the people Suhail Sameer (CEO, BharatPe) sitting on Governance Review and passing judgement on me! Great work by Sequoia and Harshjit Sethi (MD at Sequoia Capital India) and Chairman Rajnish Kumar for a perfectly executed witch hunt with your accomplices Sumeet Singh (General Counsel and Head- Corporate Strategy, BharatPe) and Bhavik Koladiya (Co-founder and Group Head of Product & Technology at BharatPe)," she further tweeted, tagging all of them.

Jain said law firms Shardul Amarchand Mangaldas and Alvarez & Marsel (A&M) did not present any documents regarding the governance review.

"@AMS_Shardul and A&M never presented a single document to me when I was called. They did not present any proof for me to address. Where is the concept of natural justice? I have learned of allegations from the media. A&M has not till date been able to explain how their report leaked," she argued via Twitter.

She also posted a video clip of an office party where Sameer and Koladiya were seen.

"Congrats @SuhailSameer14 @BhavikKoladiya and Shashvat Nakrani. Now you may indulge in your 'drunken orgies' without having to wait for me (righteous lady) to leave office. Slow clap," she posted.

BharatPe terminated the services of Madhuri Jain, head of controls, after an internal probe found misappropriation of funds during her time at the fintech platform.

"We can confirm that the services of Madhuri Jain Grover have been terminated in accordance with the terms of her employment agreement," the company said in a statement.

Alvarez and Marsal, a leading management consultant and risk advisory firm, is set to submit its report into financial irregularities at the firm during Grovers' time some time next week.