BharatPe co-founder Ashneer Grover and his wife Madhuri Jain were stopped at Indira Gandhi International Airport on Thursday on the basis of LOC (Look Out Circular) issued against them. Sources related to the case told the media that the couple were leaving for New York.

Let us tell you that LOC was issued against both of them on the request of the Economic Offenses Wing (EOW) of Delhi Police. Earlier in June, the EOW had filed an FIR against the couple and some other family members for alleged embezzlement of funds and causing a loss of Rs 81 crore to Resilient Innovations Pvt Ltd, which operates BharatPe.

LOC is a circular letter used by authorities to check whether a traveling person is wanted by law enforcement agencies or not. A person against whom LOC has been issued cannot travel outside the country.

The couple were not immediately available for comment. Earlier this week, in a status report to the Delhi High Court, the EOW said there were discrepancies in vendor invoices and said some human resources (HR) consultancies linked to BharatPe were set up to siphon off funds from fintech unicorns. The eight HR consultancies in question have been found to be linked to relatives of Madhuri Jain, wife of the fintech company's former head and co-founder Ashneer Grover.

The EOW said the investigation is still in its initial stage. Sources said the couple has been asked to appear before the EOW next week to join the investigation. "After the latest status report filed by the EOW in the Delhi High Court, where they have found evidence of embezzlement, it is appropriate for the EOW to issue an LOC against the accused," Bharat Pay's lawyer Zulfikar Memon of MZM Legal told the media.

Ashneer Grover also presented his side in this matter on social media. He wrote "I have not received any communication or summons from EOW since the FIR in May till 8 am today (7 hours after returning from the airport). I was traveling to the US from 16-23 November. At the time of immigration the officials Said LOC is in place sir - let's check with EOW. I found this strange because I have traveled internationally four times since the FIR was filed in May. Never faced any problem and have not been summoned even once. Sent. Well meanwhile the flight has left. The EOW people instructed the immigration to ask us out so that we can return home. This morning the EOW summon was delivered home. We will cooperate as always. This There is no drama. There is a process to remove LOC. Obviously I am not in flight risk. Rest, print whatever you want. The picture is running, enjoy for free!”