A group of creditors of Cox & Kings had submitted complaints to the Economic Offences Wing of the Mumbai police against the company for defrauding them. While preliminary enquiries into their complainants are under way, the Mumbai police registered a case based on Kotak Bank NSE 2.91 %’s complaint, which was subsequently transferred to the EOW.
IndusInd Bank’s complaint of being defrauded by the company to the tune of about Rs 240 crore is among those that the EOW is investigating.
“We have studied the complaint and the audit report prepared by PwC against CKL and have found merit in IndusInd Bank’s complaint. The preliminary enquiry will be soon converted into an FIR,” said an official privy to the development.
Cox & Kings promoter Ajay Ajit Peter Kerkar has lodged counter-FIRs against the banks and key personnel of the travel company’s former management last month, accusing them of causing a loss of over Rs 5,500 crore to CKL and its affiliates.
Cox & Kings is currently undergoing corporate insolvency resolution. Last month, the Enforcement Directorate conducted searches at five locations of the Cox & Kings Group in connection with the Yes Bank NSE 1.14 % scam.
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