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ED arrests Cox & Kings promoter for money laundering

Nov 27, 2020 07:22 IST

The Enforcement Directorate on Thursday arrested Cox & Kings promoter Peter Kerkar in a money laundering case linked to the alleged loan default at the Yes Bank, officials said. The case relates to ED's money laundering probe in which the central probe agency had said that Yes Bank had a total outstanding of ₹ 3,642 crore against Cox & Kings Group of Companies. The role of Peter Kerkar is under probe with regard to alleged loan defaults with a number of banks including the Yes Bank. The ED had also arrested its ex-chief financial officer and internal auditor of Cox & Kings in October.