BharatPe makes it official, sacks top exec Madhuri Jain

BharatPe on Wednesday confirmed that it has sacked its head of controls Madhuri Jain while she took to Twitter with allegations of a “witch hunt.” The fintech unicorn is also clawing back Jain’s equity in accordance with her employment contract, said an official with the company.

“As per your query, we can confirm that the services of Madhuri Jain Grover have been terminated in accordance with the terms of her employment agreement,” a BharatPe spokesperson said.

Mint first reported on 21 February that the Delhi-based startup had sacked Jain due to alleged fraud and that it is clawing back stocks held by her as employee stock options (ESOPs).

Jain, the wife of embattled co-founder Ashneer Grover, is charged with the misappropriation of funds. The firing is based on a 24 January report by Alvarez and Marsal (A&M) submitted to the BharatPe board.

Jain did not immediately respond to a query seeking her…

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