The Delhi Police’s Economic Offence Wing (EOW) has arrested UPI platform BharatPe co-founder Ashneer Grover’s brother-in-law Deepak Gupta on charges of misappropriating ₹81 crore from the fintech company using fabricated documents.

On Friday, Deepak Gupta was interrogated by the EOW and subsequently placed under arrest before he was produced in the Court.

Counsel for BharatPe, Advocate Vivek Jain said, “He (Deepak Gupta) was produced in the Court and his remand was sought. We tried to tell the court how big the fraud was as ₹72 crores were siphoned off. We also told the court about the culpability of the accused. The court heard us and the complainant, and thought it fit to hand him over to the police...”

Complaint

On a complaint of M/s Resilient Innovations Pvt Ltd, the company behind the brand name BharatPe, the EOW had registered an FIR on May 10, 2023, under various sections of the erstwhile Indian Penal Code. The EOW alleged that Ashneer Grover (Founder & Ex-Director), his wife Madhuri Jain Grover and other officials were involved in misappropriation of funds.

The EOW stated on Saturday that the investigation revealed that Gupta served as the Procurement Head at the relevant time in Resilient Innovations Pvt Ltd and he allegedly “used to acknowledge the bogus deliveries of standees etc, on the basis of which the payments were made to the non-existent firms”.

“His involvement in the case is also corroborated from the interrogation of accused Amit Bansal, who was arrested earlier and is presently in judicial custody,” Raja Banthia, the DCP of EOW, said.

Bansal was picked up by the EOW in August, as he was allegedly one of the members of the non-existing firms that had received ₹72 crore from the then directors of BharatPe, between 2019 and 2021.

The EOW had earlier got lookout circulars issued against Grover couple to stop them from going abroad. The company had challenged the LoC in Delhi High Court.

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