 "Enforcement directorate")
Widening its investigation into the YES Bank fraud case, the Enforcement Directorate (ED) on Monday searched five premises of the promoter, directors, and auditors of outbound travel firm Cox & Kings. This was in connection with the tour operator’s financial dealings with Rana Kapoor, the co-founder of private lender YES Bank under judicial custody for alleged money laundering.
According to the federal agency, outstanding loans aggregating Rs 3,642 crore sanctioned to the travel firms showed ‘irregularities’.
“During investigation, irregularities were noticed in relation to the loan sanctioned to Cox & Kings Group. The group had created multiple layers of onshore and offshore
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