Delhi Police Arrests Deepak Gupta in BharatPe Fund Misappropriation Case
New Delhi [India], September 20: The Economic Offences Wing (EOW) of Delhi Police has arrested Deepak Gupta, a relative of Ashneer Grover, the former Managing Director and co-founder of BharatPe. Gupta is accused of misappropriating funds from the fintech company.
Gupta is currently held at the EOW Police Station and will be presented before the Chief Judicial Magistrate at Saket Court. The police are expected to seek custody for further investigation.
This arrest is part of an ongoing legal battle between BharatPe and Grover, which began after Grover’s ouster from the company in 2022 amid allegations of financial misconduct and misappropriation of company resources.
In related news, the Delhi High Court has granted permission to Ashneer Grover and his wife, Madhuri Jain Grover, to travel to Doha and the United Kingdom. They had challenged a Look Out Circular issued by the EOW. The Grovers plan to travel to the UK from September 28 to October 7 and to Doha from October 17 to 20, where Ashneer Grover is scheduled to speak.
The EOW is investigating a case related to an alleged fraud of Rs. 81 crore.
Doubts Revealed
Delhi Police -: Delhi Police is the law enforcement agency responsible for maintaining law and order in Delhi, the capital city of India.
Deepak Gupta -: Deepak Gupta is a person who is related to Ashneer Grover, the former Managing Director of BharatPe, a financial technology company.
BharatPe -: BharatPe is a company in India that provides financial services to small businesses, like helping them accept payments from customers.
Ex-MD -: Ex-MD means former Managing Director. In this case, it refers to Ashneer Grover, who used to be the head of BharatPe.
Fund Misappropriation -: Fund misappropriation means using money in a wrong or illegal way. Deepak Gupta is accused of doing this with BharatPe’s money.
Economic Offences Wing -: The Economic Offences Wing is a special part of the police that deals with crimes related to money, like fraud and cheating.
Chief Judicial Magistrate -: The Chief Judicial Magistrate is a senior judge who handles important legal cases in a court.
Saket Court -: Saket Court is a court in Delhi where legal cases are heard and decided.
Ousted -: Ousted means removed from a position. Ashneer Grover was removed from his job at BharatPe in 2022.
Delhi High Court -: The Delhi High Court is a high-level court in Delhi that deals with important legal matters.
UK -: UK stands for the United Kingdom, a country in Europe.
Doha -: Doha is the capital city of Qatar, a country in the Middle East.
Speaking engagements -: Speaking engagements are events where people are invited to give talks or speeches, usually to share their knowledge or experiences.
