Friday, February 7, 2014

‘Birla Power shifted money to sister cos’

Mumbai: The economic offences wing (EOW) probing a cheating case against several directors of Birla Power Solutions Pvt Ltd on Thursday said it had found a total FDs and ICDs (inter-corporate deposits) worth Rs 214 crore in the firm. 

    “There were 11 transactions from Birla Solutions to their sister companies. We found that a large chunk of investors’ money had been transferred to sister concerns and other companies,” said Rajvardhan Sinha, additional commissioner of police, EOW. — Mateen Hafeez 

The Times of India, February 7, 2014

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