In more trouble for the travel firm Cox & Kings (CNK), the Economic Offences Wing (EOW) of Mumbai police registered a fresh case for allegedly cheating Laxmi Vilas Bank to the tune of Rs 35 crore.
This is the sixth case registered against the group by EOW. To recall, the Enforcement Directorate (ED), on November 26, arrested CNK’s promoter Peter Kerkar in a money laundering case. The fresh case registered by EOW pertains to allegedly defaulting a loan given by the bank, sources said.
Based on the complaint of the bank, EOW has registered a case against Peter, his wife Urshila Kerkar, and others. Last month, EOW registered a case against CNK for allegedly cheating HDFC bank approximately to the tune of Rs 50.71 crore. The EOW and the ED are investigating various allegations against the group pertaining to cheating, forgery and criminal conspiracy.
Agencies are investigating alleged misappropriations involving the group, which is undergoing insolvency proceedings. The ED has also arrested Anil Khandelwal, CFO and Naresh Jain, Internal Auditor of the group in a money laundering case linked with their ongoing Yes Bank probe. Other lenders have approached EOW alleging fraud. A cross complaint has also been filed by Kerkar against the management of CNK and six banks for allegedly causing a huge loss. The complaint was filed in the court alleging cheating and money laundering.
The travel company was sent to the bankruptcy court last year in October, after it defaulted on payments. ED had initiated investigation under PMLA on the basis of FIR registered by the Central Bureau of Investigation.