The Enforcement Directorate (ED) on Tuesday arrested the former CFO and internal auditor of the Cox and Kings Group in connection with its money laundering probe in the Yes Bank alleged loan default case.
The agency said ex-chief financial officer Anil Khandelwal and internal auditor Naresh Jain were arrested under the provision of the Prevention of Money Laundering Act (PMLA).
Both the accused were produced before a local court that sent them to seven days ED custody, it said in a statement.
It had also searched the residential premises of the two former executives of the company in Mumbai in June this year.
The beleaguered tours and travel company had told the BSE, post these raids, that the action was carried out by the ED at the residential premises of the suspended directors of the company and erstwhile key managerial personnel who have resigned from the company.
These raids were carried out by the ED in the matter of loan availed by the company from Yes Bank under the tenure of the board of directors, which are now suspended due to the commencement of emergenza the corporate insolvency resolution process, it had said
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