Abhishek Singh, Director, Manpasand Beverages, in an interview with Business Today, has said that the allegations made against his company are 'baseless'.

Though the Manpasand scam came to light only this year, Mumbai-based 2Point2 Capital had raised a red flag about the company way back in 2016

While other beverage companies hire expensive celebrities to endorse brands, Dhirendra Singh, Chairman of Manpasand Beverages, settled for a modest Sunny Doel, who he believed had a tremendous fan-following in smaller markets where he sold his beverages

Manpasand Beverages also informed the exchange that its three directors - Bipin Rathod, Uday Kamath and Jitendra Dhivare - have resigned with immediate effect

Share price of Manpasand Beverages hit lower circuit of 5% on Wednesday after auditor Mehra Goel and Co. Chartered Accountants resigned amid the ongoing investigation in the GST fraud case.