Yash Birla group used older name of company to lure investors?

Updated On: 01 September, 2015 06:38 AM IST | | Varun Singh

<p>Investors in Birla Power Solutions allege they were given bills of exchange on behalf of Birla Global Corporate Ltd (BGCL) despite the company's name change to IndoAsean Oceanic Exports Ltd in 2009</p>

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Was the Yash Birla group receiving money for the troubled company Birla Power Solutions by making a company that had ceased to exist the co-acceptor? According to documents made available to this paper by some of the investors, while receiving money for Birla Power Solutions, directors of another company, Birla Global Corporate Limited, had signed as co-acceptors.

Yash Birla