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On Friday, Yashovardhan Birla had nothing to be pleased about the visitors to his residence on Mumbai’s Mount Pleasant Road. The economic offences wing (EOW) of Mumbai police raided the house and five other offices of the chairman of the Rs 3,500-crore group for defaulting on fixed deposits (FDs) by group firm Birla Solutions.
Such visitors are becoming a familiar sight for the group, seemingly going only one way — downhill. Since early this month, the enforcement directorate, the income tax department and the Narcotics Control Bureau have been making multiple rounds of the group’s offices, to scan various alleged violations of law.
The problems for Yash Birla, a member of India’s oldest business family and chairman of the group, began when group premises were raided by the income tax department for alleged tax evasion early this month. During searches at at least 20 offices of the group, the tax department stumbled upon irregular foreign exchange transactions and informed the enforcement directorate (ED) for further action. The ED probe is on.
The tax department also stumbled upon what it called use of drugs by a top official of the group when it raided a room at the Taj Mahal, Colaba, in Mumbai, and immediately called in the Narcotics Control Bureau.
On January 10, the Narcotics Control Bureau arrested Ananth Vardhan Pathak, president of the group, for possession of drugs. Pathak was alleged to have been caught with 4.5g heroin. Police officials said the quantity was enough for a small rave party. Pathak is now on bail.
On Friday, Yashovardhan Birla had nothing to be pleased about the visitors to his residence on Mumbai’s Mount Pleasant Road. The economic offences wing (EOW) of Mumbai police raided the house and five other offices of the chairman of the Rs 3,500-crore group for defaulting on fixed deposits (FDs) by group firm Birla Solutions.
Such visitors are becoming a familiar sight for the group, seemingly going only one way — downhill. Since early this month, the enforcement directorate, the income tax department and the Narcotics Control Bureau have been making multiple rounds of the group’s offices, to scan various alleged violations of law.
The problems for Yash Birla, a member of India’s oldest business family and chairman of the group, began when group premises were raided by the income tax department for alleged tax evasion early this month. During searches at at least 20 offices of the group, the tax department stumbled upon irregular foreign exchange transactions and informed the enforcement directorate (ED) for further action. The ED probe is on.
The tax department also stumbled upon what it called use of drugs by a top official of the group when it raided a room at the Taj Mahal, Colaba, in Mumbai, and immediately called in the Narcotics Control Bureau.
On January 10, the Narcotics Control Bureau arrested Ananth Vardhan Pathak, president of the group, for possession of drugs. Pathak was alleged to have been caught with 4.5g heroin. Police officials said the quantity was enough for a small rave party. Pathak is now on bail.
