CBI charges Ashoka University co-founders with Rs 1,626 crore bank fraud

NEW DELHI: The CBI has filed an

FIR

against Pranav

Gupta

and

Vineet Gupta

, co-founders of the Ashoka University, in connection with a case of an alleged bank fraud of Rs 1,626 crore involving their Chandigarh-based pharmaceutical company Parabolic Drugs.

The case was registered on December 31. Apart from the duo, the FIR named 10 others, including the firm, as accused. Other accused named in the FIR are Deepali Gupta,

Rama Gupta

, Jagjit

Singh Chahal

, Sanjeev Kumar,

Vandana Singla

, Ishrat Gill, J D Gupta and T N Goyal and

Nirmal Bansal

.

The allegations pertain to cheating the Central Bank of India and 11 other banks. The accused allegedly availed huge loans and diverted the funds while using forged documents, the agency said.

The accused have been booked under Sections 120-B (criminal conspiracy) and 463 (forgery) of the IPC. The FIR was followed by raids during which incriminating documents, articles and nearly Rs 1.6 crore cash were found in the raids, the CBI said. The agency may move for arrests in the case soon, sources said. The Ashoka University website shows Vineet as the founder and trustee and Pranav as the co-founder.