ED conducted searches at 17 locations across the country on Friday in connection with the Rs 1600 crore alleged bank fraud case, sources said
Representational Pic
The Enforcement Directorate (ED) conducted searches at 17 locations across the country on Friday in connection with the Rs 1600 crore alleged bank fraud case related to Parabolic Drugs Ltd, according to sources.
ADVERTISEMENT
Sources said the searches were conducted under the Prevention of Money Laundering (PMLA) at locations in Delhi, Mumbai, Chandigarh, Panchkula and Ambala.
In this case, Parabolic Drugs Ltd and its directors/promoters, Pranav Gupta and Vineet Gupta, have committed bank fraud worth Rs 1,600 crore.
An investigation has revealed that Vineet Gupta and Pranav Gupta are the founding members of Ashoka University.
Further details are awaited.
This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever
Subscribe today by clicking the link and stay updated with the latest news!" Click here!
