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CBI registers bank fraud case against promoters, directors of Cox and Kings

It is alleged that the company submitted manipulated records to get credit facilities from Yes Bank, officials said

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1 min read Last Updated : Sep 26 2024 | 3:15 PM IST

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The CBI has registered a case of alleged Rs 525-crore bank loan fraud against the promoters and directors of travel company Cox and Kings on the complaint of Yes Bank, officials said on Thursday.

The CBI has taken over the investigation from the Mumbai Police that was probing the matter against the travel company, its promoters/directors Ajay Ajit Peter Kerkar and Usha Kerkar, CFO Anil Khandelwal and directors Mahalinga Narayanan and Pesi Patel.

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The central probe agency has registered the case on a reference from the Maharashtra government routed through the Centre against all individuals under IPC sections related to cheating, forgery and criminal misconduct in addition to provisions of the Prevention of Corruption Act.

It is alleged that the company submitted manipulated records to get credit facilities from Yes Bank, officials said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)