A chartered accountant employed with the travel firm Cox & Kings was found dead in Mumbai days after he became a witness for the investigative agencies in a multi-crore scam.
Mumbai Police is investigating the death of a chartered accountant who was employed with a firm marred by allegations of financial irregularities. Identified as Sagar Deshpande, the deceased was working as a CA with the now-defunct travel firm Cox & Kings.
Last week, the Enforcement Directorate had arrested Anil Khandelwal, the chief financial officer of the travel company Cox & Kings in connection with the Yes Bank scam. The probe agency has also arrested the company’s internal auditor Naresh Jain.
The deceased Sagar Deshpande had apparently promised some crucial documents to Economic Offences Wing which would help them in the case. He was also cooperating with the Enforcement Directorate in their investigation into the scam.
Sagar Deshpande’s body was found near the Titwala railway tracks on Monday.
According to a report in Mumbai Mirror, Deshpande was employed as manager, finance at Cox & Kings since July 2010. He had been missing since last Sunday and his family had lodged a complaint with the Naupada police on Friday.
Sagar was summoned by the crime branch on October 13. However, he had been missing since October 11.
The Cox & Kings came under the ED scanner during a probe into the fraud loans issued by Yes Bank. During the investigation, the ED found that Cox & Kings used ‘fictitious customers’ to launder thousands of crores it borrowed from Rana Kapoor’s bank.
An amount of Rs 3,642 crore is outstanding against Cox & Kings Group in debt-ridden Yes Bank. It includes Rs 563 crore loan in the name of Cox & Kings Ltd (CKL), India; Rs 1,012 crore in the name of Ezeego One Travel & Tours Ltd (EOTTL), India; Rs 422 crore in the name of Cox & Kings Financial Services Ltd (CKFSL), India; Rs 1152 crore in the name of Prometheon Enterprise Limited, UK and Rs 493 crore in the name of Malvern Travel Ltd, UK.
Source: India Today