EX-MD of Birla firm held in cheating case

MUMBAI: The economic offences wing on Thursday arrested PVR Murthy, former managing director of Birla Power Solutions Pvt Ltd, for his alleged role in a cheating case registered against several directors of the company.

The Marine Drive police on December 30, 2013, registered a case against Birla Power Solutions for allegedly duping a Worli businessman, Bhavin Seth, of Rs 1 crore by not repaying his FD investment on maturity.

Additional commissioner of police Rajvardhan Sinha confirmed Murthy was arrested late on Thursday. "Illegal transfer of funds from Birla Solutions to other companies took place when Murthy was the chief financial officer. He was mainly responsible for the transfer," said Sinha.

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