Yes Bank case: ED raids five premises of Cox and Kings in Mumbai
The teams of the central agency are carrying out the searches under the Prevention of Money Laundering Act (PMLA), they said.
The Enforcement Directorate on Monday raided, in any event, five premises of worldwide visits and travel organization Cox and Kings in Mumbai regarding the Yes BankNSE 6.07 % money laundering test case, officials said.
The groups of the focal office are carrying out the pursuits under the Prevention of Money Laundering Act (PMLA), they said.
Cox and Kings were one of the top borrowers of the bank and the last had an introduction of about Rs 2,260 crore to the organization, the officials said.
The quests are aimed at gathering more proof in the case and five premises are being covered, they said.
The quests are aimed at gathering more proof in the case and five premises are being covered, they said.
The ED is probing Yes Bank and various other huge corporate gatherings regarding an alleged misrepresentation case where immense advances issued by the bank became non-performing assets (NPAs).
It arrested Yes Bank prime supporter Rana Kapoor in March this year and as of late-filed its first charge sheet in the case under the watchful eye of a unique PMLA court in Mumbai.
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