Lagatar24 Desk
New Delhi, Oct 27: In relation to the Rs 1600 crore alleged bank fraud case involving Parabolic Drugs Ltd, the Enforcement Directorate (ED) searched 17 locations nationwide on Friday, according to sources.
According to sources, searches were carried out at locations in Delhi, Mumbai, Chandigarh, Panchkula, and Ambala in accordance with the Prevention of Money Laundering (PMLA).
In this instance, bank fraud totalling Rs 1,600 crore was perpetrated by Parabolic Drugs Ltd. and its directors/promoters, Vineet and Pranav Gupta.
An inquiry has uncovered that Vineet Gupta and Pranav Gupta are the founding members of Ashoka University.
