Asian Tech Press (Mar. 10) -- Ashneer Grover, co-founder and former managing director of BharatPe, one of India's fastest growing fintech companies, has been under investigation by the country's GST authorities.

GST authorities have expanded their investigation into alleged tax evasion by fintech firm BharatPe to include the issuance of fake invoices by people allegedly close to the company's deposed co-founder Ashneer Grover.

BharatPe has stripped Grover and his wife Madhuri Jain of all their positions after a preliminary report from an external audit commissioned by the fintech firm's board showed the two indulged in alleged financial irregularities.

Tax authorities officials have been investigating BharatPe's accounts since last year for allegedly issuing invoices without any actual supply of goods and the Directorate General of GST Intelligence conducted a search operation at the fintech's headquarters in October last year.