NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  

Rediff News  All News  » Business » Lookout notice issued against Yash Birla in cheating case

Lookout notice issued against Yash Birla in cheating case

February 01, 2014 16:43 IST

A lookout notice has been issued against industrialist Yash Birla in connection with a cheating case registered against his firm Birla Power Solutions, police said.

The Economic Offence Wing (EOW) of the Mumbai Police issued the lookout notice on Friday, said a police officer.

The case was first reported on December 31, 2013 when the Marine Drive police registered a cheating case against Birla Power Solutions Pvt Ltd for allegedly duping a

Worli-based businessman of Rs 1 crore by not repaying his fixed deposit investment on maturity.

The case was later transferred to the EOW. So far, 28 investors have approached EOW saying they have been cheated of a total of Rs 20 crore (Rs 200 million).

Police have already arrested Birla Power's former Managing Director PVR Murthi in the case.

The Look Out notice is a circular sent at all immigration checks at international borders (like International airports or sea ports) and as soon as the person is spotted, the authorities concerned are notified.

Yash Birla could not be contacted for comments.