In more trouble for travel firm Cox & Kings (CNK), the Economic Offences Wing (EOW) of Mumbai police registered a fresh case for allegedly cheating HDFC bank approximately to tune of Rs 50.71 crore.
This is the fifth case registered against the group by EOW. To recall, the Enforcement Directorate (ED) on Thursday arrested CNK’s promoter Peter Kerkar in a money laundering case. The fresh case registered by EOW pertains to availing of loan by allegedly forging documents, sources said.
Based on the complaint of an HDFC representative, the EOW has registered a case against Peter, Urshila Kerkar, directors and auditors. The accused have been booked under Indian Penal Code (IPC) Sections 406 (criminal breach of trust), 409 (criminal breach of trust by public servant, or by banker, merchant or agent), 420 (cheating), 465 (forgery), 467 (forgery of valuable security), 468 (forgery for purpose of cheating) 471 (using as genuine a forged) and 120 B (criminal conspiracy).
Early this month, two FIRs were registered by EOW against CNK and its sister concern Ezeego One Travels. According to the police, the cases have been registered for allegedly cheating Axis Bank and a private investment company to the tune of Rs 1,582 crore. In the FIR, EOW has registered charges of cheating, forgery, criminal breach of trust, falsification of documents and criminal conspiracy.
In earlier responses to this newspaper, Kerkar has been denying the allegations. Agencies are investigating the alleged scams involving the group which is undergoing insolvency proceedings.
The ED had last month arrested Anil Khandelwal, CFO and Naresh Jain, Internal Auditor of the group in a money laundering case linked with their ongoing Yes Bank probe. Investigations revealed that Yes Bank has a total outstanding of Rs 3,642 crore in respect of CKG. Lenders have approached EOW alleging fraud. A cross complaint has also been filed by Kerkar against the management of CKG and six banks for allegedly causing a huge loss. The complaint was filed in the court alleging cheating and money laundering.
