Mumbai: The Mumbai police’s Economic Offences Wing (EOW) has arrested a close aide of the owner of tour and travel company Cox & Kings in connection with a Rs 400-crore fraud case involving Yes Bank, officials said on Friday.
Ajit Menon (67), a British national, was apprehended by a team of Mumbai police at Cochin airport in Kerala after he arrived from London on Tuesday, an official said.
A Look Out Circular had been issued against him, he said.
Menon was brought to Mumbai on Thursday morning and produced in a court, which remanded him in police custody till April 15, the official said.
According to the official, Menon was a close aide of Ajay Peter Kerkar, the owner of Cox and Kings.
Menon came on the EOW radar during the agency’s probe into the Rs 400-crore Yes Bank fraud case, which involved alleged diversion of money after availing a loan from the bank, the official said.
The money disbursed by Yes Bank was not used for the purpose for which they had obtained the loan, the official said.