Yashovardhan Birla

Industrialist Yash Birla gets Bombay HC nod to travel to UK, Egypt

The Bombay High Court has permitted industrialist Yashovardhan Birla, who is facing several cases of fraud and money laundering, to travel to the United Kingdom and Egypt till July 1, noting that he was not a flight risk or likely to abscond. A vacation bench of Justices Abhay Ahuja and Milind Sathaye on May 26 suspended the Look Out Circular (LOC) issued against Birla till July 1 and directed the immigration authorities to permit him to pass through immigration and board his flight. The court, while granting Birla permission to travel only to Egypt and UK, noted that he has travelled and returned to India on many occasions and has complied with all the conditions imposed on him. The applicant (Birla) has abided by the terms and conditions imposed on him during earlier travels abroad and has his family in India, the court said. Prima facie, therefore, at this stage, it does not appear to us that the applicant (Birla) is a flight risk or likely to abscond or not present himself befo

Sebi penalises Yashovardhan Birla, 6 others in Zenith Birla GDR case

It is the level and curvature of the yield curve that contains info on market expectations on economic prospects and inflation, says paper authored by Deputy Governor M D Patra and others

SAT quashes Sebi ban on Yashovardhan Birla, others from securities mkt

The Securities Appellate Tribunal (SAT) has quashed a Sebi order that had barred Yashovardhan Birla and others from the securities market for two years for alleged mis-utilisation of the IPO proceeds. The Sebi, in October 2020, restrained Birla Pacific Medspa Ltd, Yashovardhan Birla and eight others from the securities market for two years for mis-utilisation of the IPO proceeds. Birla Pacific Medspa Ltd (BPML), which came out with offer documents in March 2011, had floated its over Rs 65-core initial public offering (IPO) in June 2011. The regulator, in its order, said that the company made misstatements in the prospectus in respect of the objects of the IPO. Pursuant to Sebi's order, Yashovardhan Birla and other individuals moved SAT. These individuals were the signatories to the prospectus of Birla Pacific Medspa. In its order dated August 26, the SAT said that appellants did not make any misstatement in the prospectus. It, further, said that the finding given by the Sebi that

Sebi bans Birla Pacific Medspa, Yash Birla, 8 others from securities

Birla Pacific Medspa Ltd (BPML), which came out with offer documents in March 2011, had floated its over Rs 65-core initial public offering (IPO) in June 2011

UCO Bank declares Yashovardhan Birla willful defaulter for Birla Surya loan

Kolkata-based UCO had given Birla Surya a credit limit of ₹100 crore.