Yogesh Gupta likely to take reins of BEVCO

THIRUVANANTHAPURAM: In the wake of M.R.Ajithkumar's suspension, Road Safety Commissioner and DGP Yogesh Gupta may once again become the Managing Director of BEVCO. Excise Minister M.Liju is interested in giving the reins to Gupta.

Yogesh is a 1993 IPS batch, and it was during his tenure as Chairman and MD that the Beverages Corporation returned to profit. Bevco suffered a loss of Rs 248 crore in 2020-21 due to Covid. After Yogesh Gupta took over, it made a profit of Rs 6 crore in 2021-22. In 2022-23, the profit increased to Rs 46 crore. In 2023-24, it reached a record (Rs 250 crore).

Income Tax had frozen Bevco's account citing improper tax returns from 2014-15 to 2018-19, flouting the rules. Thus, the corporation had to deposit Rs 1000 crore. When approached the Supreme Court, a favourable decision was received to hear Bevco's side as well. Things turned positive when Yogesh Gupta, who is also a chartered accountant, approached the Income Tax with accurate figures. Rs 1150 crore was refunded along with interest.