Kotak Bank registers ₹170 crore fraud case against Cox and Kings

Highlights :

Kotak Bank registers ₹170 crore fraud case against Cox and Kings
Subsequently transferred to EOW
A group of creditors of Cox and Kings had submitted complaints against the company for defrauding them

Kotak Mahindra Bank has registered a complaint against the now insolvent Cox and Kings Ltd, alleging fraud of over ₹170 crore.

A group of creditors of Cox and Kings had submitted complaints to the Economic Offences Wings EOW of the Mumbai police against the company for defrauding them.

Cox and Kings promoter Ajay Ajit Peter Kerkar has lodged counter FIR against the bank and key personnel of the travel company's former management last month, accusing them a loss of over ₹5,500 crore to CKL and it's affiliates.

Cox and Kings is currently undergoing corporate insolvency resolution.

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