Directors of travel firm booked for 106cr fraud | Mumbai News

Mumbai: Seven people, including two chartered accountants from Cox & Kings, were booked on Friday in a new case involving cheating and forgery amounting to Rs105.93 crore. The charges pertain to company directors Ajay Kerkar, Urshila Kerkar, Anthony Good, Pessy Patel, Mahalinga Narayan, besides its chief financial officer Anil Khandelwal, internal auditor Naresh Jain. The eighth entity which has been booked is the company itself, says the FIR.According to the FIR, the company’s board members and officers prepared fake balance sheets, submitted them to SBI Cards & Payment Services Ltd, falsely showed the company as profitable, and obtained seven corporate cards. Also, the company failed to pay EMIs of cards on time.”The complaint mentions that between 2013 and 2018, Cox & Kings recorded a turnover of Rs 1,541 crore using corporate cards and paid Rs 1,467 crore to SBI Cards. The company applied for an increased credit limit, and SBI Cards extended Rs 90 crore until June 2019. At this point, the company failed to pay GST and TDS on time. In the same month, the company declared bankruptcy and submitted related reports to Sebi, NSE, and BSE.“Mumbai: Seven people, including two chartered accountants from Cox & Kings, were booked on Friday in a new case involving cheating and forgery amounting to Rs105.93 crore. The charges pertain to company directors Ajay Kerkar, Urshila Kerkar, Anthony Good, Pessy Patel, Mahalinga Narayan, besides its chief financial officer Anil Khandelwal, internal auditor Naresh Jain. The eighth entity which has been booked is the company itself, says the FIR.According to the FIR, the company’s board members and officers prepared fake balance sheets, submitted them to SBI Cards & Payment Services Ltd, falsely showed the company as profitable, and obtained seven corporate cards. Also, the company failed to pay EMIs of cards on time.”The complaint mentions that between 2013 and 2018, Cox & Kings recorded a turnover of Rs 1,541 crore using corporate cards and paid Rs 1,467 crore to SBI Cards. The company applied for an increased credit limit, and SBI Cards extended Rs 90 crore until June 2019. At this point, the company failed to pay GST and TDS on time. In the same month, the company declared bankruptcy and submitted related reports to Sebi, NSE, and BSE.“