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ED arrests two promoters, CA of pharma co

IndiaTimes Sunday, 29 October 2023
The Enforcement Directorate has arrested Vineet and Pranav Gupta, promoters of Parabolic Drugs, and their chartered accountant, S K Bansal, in connection with a bank fraud and money laundering case amounting to Rs 1,600 crore. The Guptas are also founders of Ashoka University, which is being investigated in relation to the case. The university has denied any link to the pharmaceutical company. The ED has justified the arrest, stating that the accused were evasive during interrogation. Searches are ongoing in various locations to gather evidence of money laundering.
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