Content creators mean business
Social media influencers are flipping the rules by first getting followers and then launching products and ...
Cox and Kings promoter Peter Kerkar has been remanded till December 3 in the custody of the Enforcement Directorate. Kerkar was booked for alleged money laundering under multiple sections of PMLA on Thursday evening.
Kerkar has been booked in link to alleged loan defaults at the Yes Bank which had exposure to the travel company to the tune of ₹2,285 crore. Yes Bank too, is under the scanner. Before Kerkar, Cox and Kings’ CFO Anil Khandelwal and Internal Auditor Naresh Jain were also arrested by the enforcement authorities, in the said matter.
According to sources Kerkar had been summoned a couple of times by ED for questioning, since he wasn’t able to produce enough evidence against the alleged crimes, he was arrested.
The three have been accused of multiple crimes including forging documents, bank statements, signatures, financial results, balance sheets, and an unaccounted trail of monies leading to subsidiaries of the company. Together, the company owes various banks ₹5,500 crore.
Earlier this month, the Central Bureau of Investigation (CBI) filed an FIR against Ezeego One Travel & Tours Limited, a sister company of Cox & Kings, for defrauding YES Bank over ₹900 crore.
Please Email the Editor