Summary:
The Enforcement Directorate (ED) arrested global tours and travel company Cox and Kings Group (CKG) promoter Ajay Peter Kerkar under the relevant sections of the Prevention of Money Laundering Act (PMLA), in an alleged money laundering case involving thousands of crores of rupees.
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The Enforcement Directorate (ED) arrested global tours and travel company Cox and Kings Group (CKG) promoter Ajay Peter Kerkar under the relevant sections of the Prevention of Money Laundering Act (PMLA), in an alleged money laundering case involving thousands of crores of rupees.
Kerkar, will be produced in court on Friday.
He has been refuting all the allegations levelled against him.
He is also booked for cheating, forgery, and criminal conspiracy in four first information reports (FIRs) registered by the banking (fraud) unit of Mumbai Police’s economic offences wing (EOW) based on the complaints made by Axis Bank, Kotak Mahindra Bank, IndusInd Bank and a private investment firm.
According to these four financial institutions, the amount in the irregularities is worth Rs1,900 crore.
The names of CKG and Kerkar emerged when the central agency was probing the financial irregularities and money laundering linked to the Yes Bank case.
ED had arrested Yes Bank’s founder Rana Kapoor in March.
The agency has since then been scanning the transactions made by the bank to its borrowers.
Last month, ED had arrested CKG’s chief financial officer Anil Khandelwal and internal auditor Naresh Jain in connection with the Yes Bank case.