Investors in Yash Birla companies see massive wealth erosion

Yash Birla, one of the five named by Switzerland for having a Swiss bank account, is a promoter of companies that have been serial defaulters. The companies have failed to pay banks, fixed deposit holders as well as eroded wealth of hundreds of retail investors who bought their stocks. Of the seven listed companies of the Yash Birla Group, shares of six have fallen 85-98% in the past five years following several investor complaints and charges of cheating and fraud.