ED arrests Cox and Kings promoter Peter Kerkar in cash laundering case

NEW DELHI/MUMBAI: Cox and Kings promoter Peter Kerkar was arrested by the Enforcement Directorate (ED) on Thursday within the alleged mortgage default and cash laundering case pertaining to Sure Financial institution, officers stated.
Kerkar was arrested in Mumbai underneath varied sections of the Prevention of Cash Laundering Act (PMLA) and can be produced earlier than a neighborhood court docket there, they stated.
The case pertains to the ED’s cash laundering probe during which the central probe company had stated it had discovered that Sure Financial institution had a complete excellent quantity of Rs 3,642 crore in opposition to Cox & Kings Group of Firms (CKG).
The position of Kerkar alias Ajay Ajit Peter is underneath probe with regard to alleged mortgage defaults with different banks too aside from the Sure Financial institution, official sources stated.
The company had raided numerous former executives together with Kerkar as a part of a number of searches performed by it in Mumbai in June.
It had additionally arrested the journey firm’s ex-chief monetary officer Anil Khandelwal and inner auditor Naresh Jain in October.

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