Cox & Kings promoter caught using laptop, mobile in hospital

Cox and Kings promoter Ajay Kerkar has been charged for using a laptop and mobile phone during his hospital stay while in judicial custody. Kerkar is already facing charges for financial irregularities and diverting funds.

MUMBAI: The Azad Maidan police have registered an FIR against Cox and Kings group promoter Ajay Ajit Peter Kerkar for using laptop and mobile phone during his hospital stay while in judicial custody.

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Senior police inspector Nitin Tadake of the Azad Maidan police station said, “The FIR has been registered under sections 188 (disobedience to order duly promulgated by public servant) and 120-B (criminal conspiracy) of the Indian Penal Code.

The incident came to light on Friday when a security guard of the Arthur Road jail made a surprise visit to Keekar’s room in Bombay Hospital and allegedly found a mobile phone and tab being used by him. Based on the security guard’s statement the FIR was registered.

A police guard has been deployed outside the room, but it is not clear who and when provided the mobile phone and tab to Kerkar, who is hospitalised since June this year. We will investigate the matter and check CCTV footage of the hospital to find out who helped Kerkar with mobile and tab, added Tadake.

Kerkar was arrested on November 26, 2020, by the Enforcement Directorate (ED) on the basis four FIRs registered against him by the banking (fraud) unit of the Economic Offences Wing of the Mumbai Police for cheating, forgery and criminal conspiracy. Currently he is in judicial custody.

The FIRs are based on the complaints lodged by Axis Bank, Kotak Mahindra Bank, IndusInd Bank and a private investment firm, complaining of financial irregularities to the tune of ₹1,900 crore. Investigation has also revealed that the group has defaulted in repayment of loans to the tune of Rs. 3642 crores taken from Yes Bank as well.

According to ED, Kerkar had played an important role in borrowing loans from Yes Bank and other financial institutions to meet working capital requirements of the tours and travels group.

Thereafter, the agency claimed, Kerkar in collusion with chief financial officer Anil Khandelwal, internal auditor Ramesh Jain and others diverted funds to their own controlled entities and siphoned the said borrowed funds for their personal gain.

He is accused of “dishonestly siphoning funds from Cox and Kings Ltd (CKL) -- ₹426 crore to V Hotel, ₹ 71 crore to Tulip Star Hotel Ltd, USD 15 million to Kuber Investments Mauritius, and around ₹954 crores overseas entities.