Cox & Kings share price falls 3% after ED arrest


Cox & Kings share price shed 3% in the early trade on November 27 after the Enforcement Directorate arrested company’s promoter Peter Kerkar in an alleged case of money laundering. The agency had arrested CFO Anil Khandelwal and internal auditor Naresh Jain under the Prevention of Money Laundering Act (PMLA). The alleged scam is estimated at over Rs 20,000 crore and involves many banks. The firm owes Axis Bank Rs 1,030 crore, IndusInd Bank Rs 239 crore and Kotak Mahindra Rs 174 crore, according to the ED.

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