In connection to the Parabolic Drugs case, the Enforcement Directorate (ED) on Friday launched raids at 17 locations across several places of the country, As per media reports, a case has been registered under the Prevention of Money Laundering Act (PMLA) linked to the founders of Ashoka University.
The raids were carried out at 17 locations based in Delhi, Mumbai, Chandigarh, Panchkula and Ambala.
It has been reported that in the concerned case, the directors and promoters of Parabolic Drugs Ltd, Pranav Gupta and Vineet Gupta, committed bank fraud worth Rs 1,600 crore.
An investigation revealed that Vineet Gupta and Pranav Gupta are the founders of Ashoka University.
Advertisement
The raids are still going on.
