HC Orders Ashneer Grover, Madhuri Jain To Provide ₹80 Cr Security For US Trip

The Delhi High Court has instructed BharatPe co-founders, Ashneer Grover and Madhuri Jain Grover, to provide a security of ₹80 crore before they can travel to the United States.

What Happened: The court has ordered the Grovers, who are facing fraud allegations, to furnish security in the form of property, as reported by Moneycontrol. The court also directed them to surrender their Emirates Card to ensure they do not travel to the UAE, where they possess a “golden visa”.

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The Grovers have been given permission to travel to the US separately for their children’s summer school but under certain conditions. They are required to provide complete details of their stay, travel, and contact numbers to the court and the investigating agencies.

Justice Subramonium Prasad has stated that one of the Grovers will have to stay back in India as a “mortgage” while the other travels. Grover is scheduled to depart for the US on May 26 and return on June 14, while Jain will travel on June 15 and return on July 1.

The Economic Offences Wing (EOW) had opposed the travel plea, citing the couple’s overseas properties and potential flight risk. The Grovers are not allowed to leave the country without court permission as a Look Out Circular (LOC) has been issued against them.

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Posted In: NewsLegalAshneer GroverMadhuri Jain