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Cox & Kings and its promoters/directors allegedly submitted manipulated records to secure Rs 525 crore in credit facilities from Yes Bank .
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The CBI has taken over the investigation from Mumbai Police, registering a case under IPC sections related to cheating, forgery, and criminal misconduct .
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Trading of Cox & Kings’ shares has been suspended since 2021 due to non-payment of annual listing fees to recognized stock exchanges
The Central Bureau of Investigation (CBI) has registered a case against Cox & Kings, a travel company, and its promoters/directors for allegedly committing a Rs 525-crore bank loan fraud. The case was filed based on a complaint by Yes Bank, which claimed that the company submitted manipulated records to secure credit facilities ¹ ². The CBI investigation has taken over from Mumbai Police, and the case has been registered under various IPC sections, including cheating, forgery, and criminal misconduct.
The accused individuals include Cox & Kings’ promoters/directors Ajay Ajit Peter Kerkar, Usha Kerkar, CFO Anil Khandelwal, and directors Mahalinga Narayanan and Pesi Patel. The Maharashtra government referred the case to the Centre, leading to the CBI’s involvement ¹ ². This development adds to Cox & Kings’ existing troubles, as its trading has been suspended since 2021 due to unpaid annual listing fees.
