The Delhi High Court, in a recent ruling, has quashed the lookout circular (LOC) issued against Ashneer Grover, former Managing Director of the fintech company BharatPe, and his wife, Madhuri Jain Grover. This decision follows the quashing of the FIR lodged against them on charges of cheating and forgery.
Justice Sanjeev Narula ordered the cancellation of the LOC on Monday, aligning with the decision made by another bench of the high court that quashed the associated FIR on the same day. “In light of the fact that the underlying FIR has been quashed, the LOC issued by respondent No. 3 (Bureau of Immigration), in the opinion of the court, will not survive,” Justice Narula stated during the proceedings.
The LOC was initially issued by the Bureau of Immigration at the request of the Delhi Police’s Economic Offences Wing (EOW), which was investigating the Grovers for their alleged involvement in a cheating and forgery case related to BharatPe. The quashing of the FIR came after the Grovers reached a settlement in their disputes with the fintech company, leading to a reevaluation of the charges against them.
The court’s order to cancel the LOC was based on a plea by the Grovers seeking to quash the LOC that barred them from traveling abroad. The couple first became aware of the LOC when they were detained at Indira Gandhi International Airport on November 16, 2023, as they prepared for travel to the US. The LOC had been in effect since November 6, 2023.
In May of the previous year, Delhi Police’s Economic Offences Wing had registered an FIR against Ashneer Grover, his wife Madhuri, and others under various sections of the Indian Penal Code, including those pertaining to criminal breach of trust, cheating, dishonesty, and forgery, involving an alleged fraud of Rs 81 crore. BharatPe had alleged extensive financial misconduct by Grover and his family, accusing them of making illegitimate payments, engaging in sham transactions, and destroying evidence.
Madhuri Jain Grover, who previously served as the head of controls at BharatPe, was terminated in 2022 following a forensic audit that uncovered multiple irregularities. Ashneer Grover resigned as the CEO of the company in March 2022 amidst the escalating controversy.
