Latest news with #UrshilaKerkar
Time of India
05-07-2025
- Business
- Time of India
FIR registered against Cox & Kings promoter for 'duping' SBI Cards
A case has been registered here against the promoter of travels firm Cox & Kings and eight others for allegedly defrauding SBI Cards and Payment Services to the tune of Rs 105 crore, police said on Saturday. The First Information Report was registered at the Andheri Police Station on Friday on a complaint filed by a senior legal manager of SBI Cards, and transferred to the Economic Offences Wing (EOW) of the police, an official said. Between April 2012 and June 2019, promoter Ajay Kerkar , Urshila Kerkar and several senior officials of Cox & Kings conspired to prepare forged balance sheets misrepresenting the company's financial health and got corporate credit card facilities from SBI Cards, the complaint alleged. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like War Thunder - Register now for free and play against over 75 Million real Players War Thunder Play Now Undo The company failed to repay its dues within the stipulated time, resulting in a cumulative loss of Rs 105 crore to SBI Cards, it said. The case was registered for alleged criminal breach of trust, forgery, cheating and criminal conspiracy under the Indian Penal Code and EOW is conducting further probe, the police official said.
Time of India
05-07-2025
- Business
- Time of India
Directors of travel firm booked for 106cr fraud
Mumbai: Seven people, including two chartered accountants from Cox & Kings, were booked on Friday in a new case involving cheating and forgery amounting to Rs105.93 crore. The charges pertain to company directors Ajay Kerkar, Urshila Kerkar, Anthony Good, Pessy Patel, Mahalinga Narayan, besides its chief financial officer Anil Khandelwal, internal auditor Naresh Jain. The eighth entity which has been booked is the company itself, says the FIR. According to the FIR, the company's board members and officers prepared fake balance sheets, submitted them to SBI Cards & Payment Services Ltd, falsely showed the company as profitable, and obtained seven corporate cards. Also, the company failed to pay EMIs of cards on time." You Can Also Check: Mumbai AQI | Weather in Mumbai | Bank Holidays in Mumbai | Public Holidays in Mumbai The complaint mentions that between 2013 and 2018, Cox & Kings recorded a turnover of Rs 1,541 crore using corporate cards and paid Rs 1,467 crore to SBI Cards. The company applied for an increased credit limit, and SBI Cards extended Rs 90 crore until June 2019. At this point, the company failed to pay GST and TDS on time. In the same month, the company declared bankruptcy and submitted related reports to Sebi, NSE, and BSE. "
