Ashoka Founders Vineet Gupta, Pranav Gupta Step Down From College Board Following CBI Probe

Ashoka Founders Step Down From University Board Following CBI Probe

CBI has registered a case in opposition to the corporate, Pranav Gupta, Vineet Gupta, and 10 others. (File)

New Delhi:

Ashoka College co-founders Vineet Gupta and Pranav Gupta, who had been booked final week by the CBI in a Rs 1,600 crore fraud case, on Thursday stepped down from all boards and committees of the varsity.

The 2 are additionally administrators of a Chandigarh-based pharmaceutical firm Parabolic Medicine Ltd and have been booked for allegedly dishonest the Central Financial institution of India and different banks to the tune of Rs 1,626 crore.

The Sonepat-based college clarified that it has nothing to do with the CBI investigation of Parabolic Medicine Ltd and its administrators and any try to create a hyperlink is “frivolous and deceptive”.

“The college has over 200 founders and donors who’ve made private philanthropic contributions to Ashoka. Their particular person enterprise dealings and operations haven’t any connection to the college,” the varsity stated in an official assertion.

“In step with the excessive requirements for governance at Ashoka, Vineet and Pranav Gupta have already voluntarily stepped down from all boards and committees of the college pending the CBI case and are cooperating absolutely with the investigations,” it added.

Following the registration of an FIR, the CBI had final Friday performed searches at 12 places in Chandigarh, Panchkula, Ludhiana, Faridabad and Delhi on the workplace and residential premises of the accused.

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