The Enforcement Directorate (ED) on Friday conducted searches at 17 locations across several places of the country in a case registered under the Prevention of Money Laundering Act (PMLA) linked to the founders of Ashoka University.
In this case, Parabolic Drugs Ltd and its directors/promoters, Pranav Gupta and Vineet Gupta, committed bank fraud worth Rs 1,600 crore, according to sources.
An investigation revealed that Vineet Gupta and Pranav Gupta are the founders of Ashoka University.