Bank fraud case: ED raids pharma company, promoters in money laundering probe
New Delhi (PTI): The Enforcement Directorate on Friday carried out raids at multiple premises of Chandigarh-based pharmaceutical company Parabolic Drugs and its promoters as part of a money laundering investigation linked to an alleged bank loan fraud case, official sources said.
The searches by the central agency covered a total of 17 premises in Delhi, Mumbai, Chandigarh and Panchkula and Ambala in Haryana, they said.
The action is being undertaken under the provisions of the Prevention of Money Laundering Act (PMLA) and the ED case stems from a 2021 CBI FIR against the company and its promoters Vineet Gupta and Pranav Gupta among others, the sources said.
The agency, as per the sources, is also looking at some documents from Sonepat-based Ashoka University as Vineet Gupta and Pranav Gupta have been associated with the educational institution in the past.
The two had stepped down from all the boards and committees of the university in 2022, days after the CBI action.
The University said that the "Enforcement Directorate has sought information in the matter of investigations into the case of Parabolic Drugs where Ashoka University founders, Vineet Gupta and Pranav Gupta are directors."
"Ashoka University reiterates that Parabolic Drugs is in no way linked to Ashoka University. Ashoka University has no past or current relationship with Parabolic Drugs, the company being investigated, and any attempt to create a link is without any basis and misleading."
"Vineet and Pranav Gupta are two among the more than 200 founders and donors of Ashoka University, who have contributed to Ashoka's creation and growth in their personal philanthropic capacity and whose individual businesses have absolutely no bearing on the university," it said in a statement.
The CBI had booked the top executives of the company in December, 2021 for allegedly defrauding a consortium led by Central Bank of India of Rs 1626.74 crore. It had subsequently raided their premises also.
Besides the managing director Paranav Gupta, the CBI booked a number of company directors like Vineet Gupta, Deepali Gupta, Rama Gupta, Jagjit Singh Chahal, Sanjeev Kumar, Vandana Singla, Ishrat Gill, and its guarantors TN Goyal and Nirmal Bansal, and one J D Gupta.
According to CBI officials, the private company was engaged in manufacturing drugs and allegedly defrauded the consortium of banks through criminal conspiracy and forgery, and funnelled loans it took for other uses.
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ICSE, ISC results: Girls outperform boys, pass rate over 99%
New Delhi (PTI): The Council for the Indian School Certificate Examinations on Thursday announced the Class 10 and Class 12 results for 2026, with overall pass percentages of 99.18 per cent and 99.13 per cent, respectively.
A total of 2,58,721 candidates appeared for the Indian Certificate of Secondary Education (ICSE), or Class 10, examination.
About 1,03,316 students took the Indian School Certificate (ISC), or Class 12, exam.
Girls outperformed boys in both examinations.
In ICSE, girls recorded a pass percentage of 99.46 per cent compared to 98.93 per cent for boys.
In ISC, girls achieved a 99.48 per cent pass percentage, while those of boys stood at 98.81 per cent.
Students can now access their scorecards on the official website cisce.org.
