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Ajay Ajit Peter Kerkar was arrested by the ED on November 27, 2020, over allegations of siphoning funds through related party transactions.
The data show that Kerkar wrote to Global Aerospace the same day on ‘waiver of independent legal advice regarding personal guarantee’ with regard to the $2 million loan, saying “I am a sophisticated businessman and have given personal guarantees before.”
'I was put in an anda cell. No window, light or air. Only grills.' 'During the monsoon, water would seep. There were rats running around all the time.' 'We were forced to sleep under bright lights all the time. Those bright lights are never switched off.'
Economic Offences Wing has found that the travel firm had opened separate bank accounts for each of the 15 companies, obtained PAN numbers and sold tickets to them for two years.
The travel and tourism industry expects reduction of tax burden, improvement of infrastructure and better connectivity from the upcoming Budget 2019, that will help double both the international as well as domestic tourist traffic.