Cox And Kings Promoters Face CBI Case Over Alleged Financial institution Fraud Value 946 Crore
Sure Financial institution approached the CBI alleging fraud through Ezeego One Shuttle and Excursions Ltd
New Delhi:
Ezeego One Shuttle and Excursions Ltd and its promotors and administrators are actually dealing with a CBI case for allegedly defrauding Sure Financial institution for as much as Rs 946 crore, officers stated on Monday. The Central Bureau of Investigation filed the case towards the corporate and its executives Ajay Ajit Peter Kerkar, Urshilla Kekar, Neelu Singh, Arup Sen, Manisha Amarapurkar, Pesi Patel and Karthik Venkatraman.
Ezeego One Shuttle and Excursions is a sister worry of Cox and Kings Ltd. Ajay Ajit Peter Kerkar and Urshilla Kekar are promoters of each the firms.
The CBI in its First Knowledge Record stated Ezeego, which was once integrated in 2006, is engaged in providing commute merchandise within the Indian marketplace. The corporate first took credit score amenities from Sure Financial institution in 2017 for as much as Rs 650 crore, which was once enhanced to Rs 1,015 crore through September 2018. As the corporate defaulted in fee, the account was once declared non-performing asset (NPA) in June 2019.
A forensic audit of the account discovered that the corporate indulged in diversion of price range and a majority of the mortgage have been transferred to Cox and Kings Ltd, the financial institution stated in its criticism to the CBI.
Sure Financial institution alleged the corporate took Rs 150 crore to near its mortgage account with Axis Financial institution and submitted paperwork appearing the similar, however the audit printed that the corporate has no longer closed the mortgage or even that became NPA in 2019.
In accordance with the findings, Sure Financial institution termed the account as “fraud” and filed a criticism with the CBI, following which the CBI filed a felony case towards the promoters and administrators of Ezeego.
The Enforcement Directorate had additionally stated Cox and Kings staff owes Rs 3,642 cror to Sure Financial institution.
One after the other, CBI assets have advised TTN NEWS they have got won a criticism from State Financial institution of India relating to a an identical fraud dedicated through Cox and Kings Ltd with the general public financial institution and the similar is being tested.
