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The Enforcement Directorate (ED) has recently conducted searches at 17 locations across the country on Friday in connection with the Rs 1600 crore alleged bank fraud case related to Parabolic Drugs Ltd.
Sources stated that the searches were conducted under the Prevention of Money Laundering (PMLA) at locations in Delhi, Mumbai, Chandigarh, Panchkula and Ambala.
In this case, Parabolic Drugs Ltd and its directors/promoters, Pranav Gupta and Vineet Gupta, have committed bank fraud worth Rs 1,600 crore.
An investigation has been revealed that Vineet Gupta and Pranav Gupta are the founding members of Ashoka University.
Further details are awaited.
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