Mumbai: In recent times, there have been cases of economic scam in many companies of the country. The latest case relates to the famous travel company Cox and Kings. The forensic audit has revealed that over the past 4 years (2015-2019) the company has misappropriated funds worth around Rs 21,000 crore, meaning that they were diverted to other jobs of their own accord by withdrawing money from the company.
Also, the company's records have been found to be wrong, a loan of Rs 1100 crore was given by one brother to another brother, which is against the basic rules. Not only this, the company sold 9000 crore rupees to 160 customers, who are either fake or not present. Many more similar scams in the Cox and Kings company have also emerged in the audit. The Indian Express has accessed the report of this forensic audit.
The Cox and Kings company took a loan from Yes Bank, which was also audited by ratings agency Price Water House Coopers in February 2020. The information of the report of this audit is also with The Indian Express, it is feared that there has been fraud in taking loans also. Let us tell you that in October 2019, when Cox and Kings company promoter Ajay Ajit Kerkar and his family were unable to pay their dues, he went to the bankrupt court. The Kerkar family holds 12.20 per cent shares in the company and the rest is held by the public.
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