India

2 Ashoka University Founders Arrested For Money Laundering

Three people have been detained by the Enforcement Directorate (ED) on suspicion of money laundering, including two co-founders of the private university Ashoka University, according to sources today.

The central agency detained two co-founders of Ashoka University, Pranav and Vineet Gupta, as well as chartered accountant SK Bansal, in accordance with the Prevention of Money Laundering Act, or PMLA.

Following 17 searches by ED in connection with the purported bank fraud case involving Parabolic Drugs Ltd., which was backed by Vineet and Pranav Gupta, the arrests took place.

Parabolic Drugs was accused by the Central Bureau of Investigation (CBI) of bank fraud totalling ₹ 1,600 crore.

Based on the CBI’s initial information report, the ED began its investigation.

The Guptas resigned from their positions at Ashoka University, which is located in Haryana, in 2022 after the CBI filed a case against them and their business in 2021.

The ED will probably present the three to a Chandigarh court in order to request custody of them.

A group headed by the Central Bank of India is said to have been defrauded of ₹ 1,626 by the promoters and the pharmaceutical company.

Also Read: Jharkhand Teen Kills Father For Beating Mother, Throwing Her Out Of House

Shivanshi Srivastava

Recent Posts

PM Modi Hails Bodoland CEM Cup As A Festival Of Unity, Youth & Sporting Spirit

During Mann Ki Baat episode, PM Modi highlighted the Bodoland CEM Cup as a celebration…

24 mins ago

India’s Retail Sector Set To Accelerate To 9–10% Growth: RAI

India’s $900 billion retail sector, currently growing at 5%, is on the verge of accelerating…

29 mins ago

India’s Manufacturing Poised For Growth: Cushman & Wakefield

India’s manufacturing sector is rapidly growing, driven by strong infrastructure and government policies, says Cushman…

39 mins ago

India’s Sugar Output Set To Rise 15% In 2026; Boosting Ethanol Blending & Exports

India's sugar production is projected to grow by 15% in sugar season 2026 to 35…

41 mins ago

India Achieves Historic Milestone In Child Immunisation; Sets Global Benchmark

India has made a historic leap in child immunisation by reducing the percentage of zero-dose…

49 mins ago

India’s Automotive Industry Gears Up To Power $5 Trillion Economy

India's auto sector powers economic growth with rising EV adoption, strong exports, and major policy…

57 mins ago