Yes Bank case: ED searches five offices of Cox & Kings in Mumbai

Five offices of alleged loan defaulter travel firm Cox and Kings in Mumbai were searched by teams of the Enforcement Directorate in connection with the Yes Bank scam case on Monday, sources said.

Five offices of alleged loan defaulter travel firm Cox and Kings in Mumbai were searched by teams of the Enforcement Directorate in connection with the Yes Bank scam case on Monday, sources said. According to sources in the ED, Cox and Kings is one of the defaulters on the radar of the economic offences watchdog in the Yes Bank scam case.

Cox and Kings was one of the biggest borrowers of Yes Bank with an approximate exposure of Rs 2,285 crore, sources said. Recently, the ED filed a charge sheet in connection with the Yes Bank scam case against the bank's former Chief Operating Officer and Managing Director Rana Kapoor, his wife and daughters before a special PMLA court in Mumbai.

The ED is probing Yes Bank and a number of its borrowers in connection with an alleged fraud case where loans issued by the bank became non-performing assets, which led to a crisis whereafter the RBI had imposed a moratorium on the bank. (ANI)