New Delhi: The Enforcement Directorate has arrested Peter Kerkar, the promoter of Cox & Kings, a tourism company, in a money laundering case. ED officials said that Peter Kerkar has been arrested under the ongoing investigation in the Yes Bank money laundering case. Kerkar has been arrested from Mumbai under various sections of the Prevention of Money Laundering Act (PMLA). After which he will be produced before the local court here.
Many banks owe a total of Rs 5,500 crore to Cox & Kings Group of Companies. Of which, Yes Bank has the highest arrears of Rs 2,267 crore.
CBI has also registered a case- CBI has registered a case against Cox & King’s subsidiary Ezigo One Travel & Tours Limited this month. The CBI has registered this case with Yes Bank for fraud of more than Rs 900 crore. Let me tell you, RBI had declared a loan of Rs 946.44 crore taken by Yesigo One Travel and Tours Limited from Yes Bank in February 2020 as a fraud. After which the CBI registered a case on the complaint of Yes Bank.
ED searched Kerkar’s house in June- ED searched the house of several former officers of the company including Kerkar in June 2020. Let me tell you, after this, in October, the ED arrested Anil Khandelwal, former chief financial officer of Cox & Kings and Naresh Jain, internal auditor.
