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The Hindu
The Hindu
National
The Hindu Bureau

ED arrests Parabolic Drugs promoters in alleged bank fraud case

CA ED Vineet Gupta CBI

The Enforcement Directorate on Saturday arrested Parabolic Drugs Limited promoters Vineet Gupta and Pranav Gupta and a Chartered Accountant (CA) in an alleged money laundering investigation into a bank fraud case.

The ED’s money laundering probe is based on a case registered by the Central Bureau of Investigation (CBI) in December 2021, in which Parabolic Drugs and 11 others have been accused of cheating a consortium of 12 banks to the tune of ₹1,626.74 crore. The Guptas are also named as accused.

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