Ashneer Grover all praise for wife Madhuri Jain’s startup investments

“Madhuri Jain Grover @madsj30 is one of the highest female tax payers in the country. She’s paid ₹2.84 crores of advance tax this financial year. She is killing it with her start up investments – in a year where the space in general is falling apart. Kudos to all honest tax payer (sic),” wrote Grover while sharing a pic of his wife.

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This is not the first time Ashneer has praised his wife. His earlier statement came in December 2022, when he stated that his wife, who formerly held a senior position at BharatPe, had paid ₹1.15 crore in advance tax.

Earlier, BharatPe took legal action against Grover, his wife, and other family members. The fintech company has filed a civil suit in the Delhi High Court, a criminal complaint with the Economic Offences Wing (EOW), and an arbitration seeking to reclaim restricted shareholding and founder title from Ashneer Grover over alleged irregularities during his tenure. BharatPe is seeking up to ₹88.67 crore in damages.

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In his book Doglapan, Grover argues that appointing spouses to board positions is justifiable as they invest in the founders’ success and are equally impacted by their failures. He suggests that when working with one’s spouse, there is no need to hesitate in designating them as co-founders and giving them a seat on the board based on their capabilities and investment in the business.

Grover also suggests that founders do not need to adopt Western management approaches solely because they receive funding from the US. He contends that the concept of arm’s length and related-party transactions is irrelevant in the Indian context.