Grapevine: FirstCry co-founder faces tax probe; Piramal to invest in PE, VC funds

The income tax department is investigating an alleged tax evasion by FirstCry co-founder Supam Maheshwari, a media report said.  The department has sent notices to Maheshwari, who is also co-founder of Globalbees Brands PVt. Ltd and Xpressbees, Bloomberg reported, citing people close to the matter.    In the notices, Maheshwari was asked on why he didn’t pay more than $50 million in taxes on equity transactions ......