“ED arrests 2 co-founders of Ashoka University for defrauding Rs 1,626 crore in Parabolic Drug case, university releases statement”, Opindia, October 28, 2023:
“On 28th October (Saturday), the Enforcement Directorate (ED) arrested two promoters of Chandigarh-based pharma company Parabolic Drugs along with a Chartered Accountant (CA) of the company. According to the official sources, they have been arrested in a money laundering investigation which is linked to an alleged bank fraud case.
The sources said that Parabolic promoters Vineet Gupta and Pranav Gupta and Chartered Accountant S K Bansal were taken into custody under the provisions of the Prevention of Money Laundering Act (PMLA). Following the arrests, the three are expected to be produced before a special PMLA court in Chandigarh where the ED will seek their custody.
It is important to note that Vineet and Pranav Gupta are the co-founders of Sonepat-based Ashoka University. However, in 2022, they stepped down from their posts at the educational institution after CBI registered a case against them and the company in 2021……”
Read the full article at Opindia.com