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Mumbai:
A particular Prevention of Money Laundering Act or PMLA court docket in Mumbai on Wednesday rejected bail pleas of a former Chief Financial Officer and an ex-internal auditor of Cox and Kings Group, who have been arrested by the Enforcement Directorate in reference to its probe within the Yes Bank alleged mortgage default case.
Special choose PP Rajvaidya rejected the bail purposes of former CFO Anil Khandelwal and former inside auditor Naresh Jain.
They have been arrested below the provisions of the Prevention of Money Laundering Act (PMLA) in October this yr.
According to the Enforcement Directorate, its probe discovered that Yes Bank had a complete excellent of Rs 3,642 crore in respect of Cox & Kings Group of Companies.
Yes Bank co-promoter Rana Kapoor and DHFL promoters Kapil Wadhawan and Dheeraj Wadhawan have been arrested by the Enforcement Directorate early this yr.
The company has alleged that Rana Kapoor, 62, entered right into a prison conspiracy with Kapil Wadhawan, DHFL promoter for spherical tripping of funds the place loans from Yes Bank to DHFL landed in corporations owned by daughters of Rana Kapoor, DoIT Urban Ventures (India) Pvt Ltd, officers had mentioned.
(Except for the headline, this story has not been edited by NDTV employees and is printed from a syndicated feed.)
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