The ED (Enforcement Directorate) on Tuesday booked Anil Khandelwal, the CFO of the Cox and Kings, a travel company, regarding the Yes Bank scam. The ED office has additionally booked the organization’s internal auditor Naresh Jain.
The two have been booked under secPl 19 of the Prevention of Money Laundering Act.
The Cox and Kings went under the ED scanner during a investigation into the misrepresentation loans gave by Yes Bank. During the probe , the ED found that Cox and Kings utilized ‘imaginary clients’ to wash a great many crores it obtained from Rana Kapoor’s bank.
A measure of Rs 3,642 crore is extraordinary against Cox and Kings Group under debt ridden Yes Bank. It incorporates Rs 563 crore credit for the sake of Cox and Kings Ltd (CKL), India; Rs 1,012 crore for the sake of Ezeego One Travel and Tours Ltd (EOTTL), India; Rs 422 crore for the sake of Cox and Kings Financial Services Ltd (CKFSL), India; Rs 1152 crore for the sake of Prometheon Enterprise Limited, UK and Rs 493 crore for the sake of Malvern Travel Ltd, UK.
As indicated by the ED, during probe in the Yes Bank case, anomalies were seen comparable to the credit authorized to Cox and Kings Group. “Group had made various layers of coastal and seaward auxiliary over the globe through which the monies were redirected. Malvern Travel Limited, UK presented the manufactured bank explanation of RBS Bank, UK, State Bank of India, UK and produced end utilized authentications of a UK-based sculpture reviewer to profit the advance of Rs 422 crore from Yes Bank,” said the ED.
In June, the ED guaranteed the firm was discovered to be engaged with the adulteration of records, exaggerating the marketing projections and downplaying the obligation figures and imaginary exchanges.
The organization additionally found that from 2015 to 2019 deals of Rs 3,908 crore was made to 15 non-existent and imaginary clients. “Most of the assortment appeared in records from Ezeego was not found in the bank explanations. Another 147 arrangements of clients are additionally dubious and non-existent, according to the review report of Pricewaterhouse Coopers. According to the report, Anil Khandelwal, CFO of CKL redirected Rs 1100 crore to Alok Industries Ltd with no endorsement of the board,” said an ED official.
Indeed Bank author Rana Kapoor is under investigation for authorizing credits to questionable organizations for individual advantage. The monetary probe organization had enlisted a tax evasion argument against Rana Kapoor and others on March 7, 2020. He was captured a day later and is in legal care.