You can help us put a stop to online scams before they grow too big and end up ruining thousands of lives. A scam is a scam, doesn’t matter if it’s big or small. Now that this is out of the way, let’s get started with the review.
Pranav Gupta Ashoka University, along with Vineet Gupta, co-founded Ashoka University but has stepped down from all university boards and communities, according to the Central Investigation Bureau.
We look at 34 different data points when analyzing and rating online money-earning opportunities. Once the research on these data points is submitted, expert contributors reach out to the company’s customers and associates to get more insight into their operation. Finally, all the collected information is presented in the form of this expert review.
All the data is extracted from publicly available information and the sources are given in the transparency section at the bottom of every report.
These reports are made possible by the collective efforts of contributors like you. If you would like to become a contributor then contact us here.
Pranav Gupta Ashoka University: Denied Any Connection to the Charges
Pranav Gupta Ashoka University resigned from all the boards of the University because he has committed about 1600 Cr. fraud but the University has denied any link up with this case.
Therefore, the charges stem from their alleged involvement in a scam worth Rs 1626 crore, which allegedly revolves around their Chandigarh-based pharmaceutical company, Parabolic Drugs.
The University based in Sonipat has claimed that they do not have any involvement with the CBI’s investigation involving Parabolic Drugs Limited and its directors namely Pranav and Vineet Gupta.
According to the statement, it is declared that the University has around 200 originators and contributors. It is considered that the FIR was filed in 12 locations such as Chandigarh, Faizabad, etc.
Thus, according to the CBI, the accused has been cheated by an association of banks through criminal activities, and fake documents to generate huge amounts of loans.
Pranav Gupta Ashoka University, Accused of Bank Fraud: What We Know?
According to NDTV, Pranav Gupta Ashoka University has recently been implicated in a fraud case by the Central Bureau of Investigation (CBI).
The CBI has registered a case against the two brothers, their company, as well as 10 other individuals believed to be connected to the fraudulent activities.
The development has attracted significant attention and casts a shadow over the reputation and credibility of the Gupta brothers as well as Ashoka University, which they founded.
The allegations suggest that Pranav Gupta Ashoka University orchestrated a complex scheme to defraud a substantial amount of money through their pharmaceutical company.
The specifics of the scam remain undisclosed, but the magnitude of the alleged fraud points to a sophisticated operation that spanned a significant period.
The CBI’s decision to register a case against Pranav Gupta Ashoka University, their company, and the other implicated individuals indicates that there is sufficient evidence and information warranting a formal investigation.
This move signifies the seriousness of the allegations and the potential legal ramifications for those involved.
The situation casts a cloud of uncertainty over Ashoka University, an esteemed educational institution founded by the Gupta brothers. The institution has gained recognition for its commitment to providing a high-quality education and fostering intellectual growth.
However, these charges against the founders may tarnish the university’s image and raise questions about its governance and ethical standards.
As this case progresses, the accused individuals will have the opportunity to present their side of the story and defend themselves against the charges. The CBI’s investigation will be critical in determining the veracity of the allegations and bringing about justice.
The outcome of this case will undoubtedly have far-reaching implications, not only for Pranav Gupta Ashoka University and its pharmaceutical company but also for Ashoka University.
Accused of Fraud
Pranav Gupta Ashoka University along with his brother Vineet Gupta have been accused of fraudulent activities involving multiple banks, including the Central Bank of India. The alleged cheating is said to have taken place in various cities.
The complaint alleges that the brothers, through their company Parabolic Drugs, obtained bank finance by overstating the value of the primary security against which the banks allowed drawings.
It further asserts that the accused conspired to deceive the banks into granting them funds for their business needs, only to later divert and misappropriate the funds for personal enrichment, thereby causing significant losses to the banks.
In the year 2014, both the State Bank and the Central Bank classified the accounts of Parabolic Drugs as “Non-Performing Assets,” indicating that the company had failed to repay its debts. The Central Bureau of Investigation (CBI) has also revealed that the company has been defaulting on its repayment obligations since 2012.
Vineet Gupta, according to Ashoka University’s records, is the founder and trustee, while Pranav Gupta is the co-founder and trustee. The allegations against the brothers suggest a serious breach of trust and financial misconduct, with the potential to impact the reputation of not only the accused individuals but also the university they are associated with.
The investigation into the case will likely shed more light on the extent of the fraud and its impact on the banking system.
CBI Charges
CBI recently took action against Pranav Gupta Ashoka University in connection with a bank fraud amounting to a staggering 16,00 crores. As a result, an FIR (First Information Report) has been filed against the brothers, as well as 10 additional individuals accused of participating in the fraud.
These additional individuals included Jagjit Singh Chahal, Ishrat Gill, Deepali Gupta, J D Gupta, Rama Gupta, T N Goyal, Sanjeev Kumar, Nirmal Bansal, and Vandana Singla.
The allegations against the accused revolve around the acquisition of large loans from various banks, as well as the diversion of funds through the use of forged documents.
The accused individuals have been charged under Sections 120-B and 463 of the Indian Penal Code (IPC), which pertain to criminal conspiracy and forgery, respectively.
During the investigation, raids were conducted at various locations associated with the accused parties. These raids resulted in the seizure of incriminating evidence, including approximately 1.6 crores in cash.
Therefore, the case shines a light on the rampant problem of bank fraud in the country. It serves as a reminder of the pressing need for financial institutions to implement robust measures to detect and prevent fraudulent activities.
Furthermore, it underscores the importance of effective regulatory oversight to ensure the integrity of the banking sector.
The CBI’s actions are a clear indication of their commitment to combating financial crimes and bringing the culprits to justice.
By filing the FIR and conducting raids, they demonstrate their determination to uncover the truth and hold those responsible accountable for their actions.
As the investigation progresses, it is hoped that all perpetrators involved in this bank fraud will be identified and appropriately punished.
Additionally, it is crucial for the authorities to examine the systemic issues that allowed such a massive fraud to occur and implement reforms to prevent similar incidents in the future.
Overall, the filing of the FIR against Gupta BrothePranav Gupta Ashoka University and their associates marks a significant development in the fight against bank fraud. It serves as a warning to those who seek to exploit the system for personal gain, and it sends a message that such criminal activities will not be tolerated.
Pranav Gupta Ashoka University: Resigned from the Positions
Vineet and Pranav Gupta Ashoka University have resigned from their roles on the university’s boards and committees following their booking for fraud by the CBI. This report has been came across after the CBI initiated an investigation into Pranav Gupta Ashoka University.
In a statement issued by the university, it was confirmed that the Guptas have voluntarily stepped down from their positions and are fully cooperating with the ongoing investigations. The university also emphasized that the CBI’s investigation into Parabolic Drugs and its Directors is unrelated to Ashoka University.
The private university situated in Sonepat vehemently denied any connection between the allegations of fraud against Pranav Gupta Ashoka University and the institution itself. In fact, the university referred to the case as glib and deceptive suggesting that it was an attempt to create false associations.
As the investigation continues, Pranav Gupta Ashoka University’s decision to resign from their roles within the University is likely an effort to prioritize the integrity and reputation of the institution. It remains to be seen how their departure will impact the university’s operations and its future leadership.
Ashoka University, an esteemed institution in India, has released a statement clarifying that the personal philanthropic contributions made by over 200 founders and donors to the university have no connection to their business dealings or operations.
The university sought to address any concerns regarding the involvement of these individuals in light of recent events. The statement further emphasized the university’s commitment to maintaining high governance standards.
It revealed that Vineet and Pranav Gupta, who are among the individuals associated with the university, have voluntarily resigned from all boards and committees of the institution. This decision was taken in response to an ongoing Central Bureau of Investigation (CBI) case.
Ashoka University expressed its cooperation with the investigations and assured that it would support any necessary actions to ensure transparency and accountability. The university remains dedicated to upholding the integrity of its operations and ensuring that the trust placed in it by the community is not compromised.
Overall, Ashoka University’s statement aimed to address any concerns surrounding the involvement of its founders and donors in personal business matters.
It showcased the university’s commitment to good governance and its proactive approach to steps necessary to maintain its principles.
CBI is currently conducting an investigation into the Gupta Brothers, a pharmaceutical company based in Chandigarh, and 10 other individuals in connection to a case involving several banks, including the Central Bank of India. The suspects have been accused of a massive fraud amounting to Rs 1,626 crore.
On December 31, investigators carried out searches at 12 locations across Faridabad, Delhi, Panchkula, Chandigarh, and Ludhiana as part of their probe. The co-founders of Ashoka University and directors of the pharmaceutical company Parabolic Drugs Ltd are at the center of this investigation. Parabolic Drugs Ltd specializes in the production of drugs and drug mediators.
The CBI is specifically looking into claims that Parabolic Drugs Ltd fake records to fraudulently obtain a loan from various banks, including the UCO Bank, State Bank of India, State Bank of Patiala, IDBI Bank, ICICI Bank, State Bank of Hyderabad, Central Bank of India, Union Bank of India, Central Bank of India, Bank of Baroda, Exim Bank, SIDBI, and Canara Bank.
This investigation highlights the serious nature of the allegations against the Gupta Brothers and the scale of the alleged fraud. The CBI’s actions in conducting searches and investigating multiple banks suggest a coordinated effort to thoroughly investigate the matter.
The outcome of this investigation will be significant in determining the extent of the Gupta Brother’s involvement and their potential consequences.
What Pranav Gupta Ashoka University Claims To Be?
Pranav Gupta, co-founder of Ashoka University, has recently made a startling claim that the university has been involved in a massive bank fraud amounting to 1600 crore rupees.
Ashoka University, located in Chandigarh, India, has long been hailed as a premier educational institution known for its commitment to academic excellence and social impact.
However, CBI’s allegations have cast a dark shadow on the co-founders and the university’s reputation. According to the reports, claims to have inside knowledge of the fraud, several key officials within the university’s administration, including siphoning off an astronomical amount of money from various banks.
The fraudulent activities allegedly involved the creation of fake accounts, fake documents, and manipulation of financial transactions. CBI asserts about Gupta Brothers that the ill-gotten funds were then channeled into various personal accounts, offshore entities, and illicit investments, thus leading to substantial financial losses for the banks involved.
These accusations have led to widespread speculation and raised numerous questions about the university’s financial management practices and its internal control systems.
As the news of this scandal breaks by the CBI, there have been immediate consequences for the reputation of Ashoka University. The incident has not only tarnished the institution’s image but also raised concerns among current and prospective students, parents, faculty members, and alumni about the safety of their investments, the credibility of the degrees awarded, and the overall trustworthiness of the institution.
In response to these allegations, the university administration has maintained complete silence so far. The lack of transparency and accountability has only exacerbated the public’s skepticism and fueled speculations. It is crucial for the university to address these accusations promptly and provide a detailed account of the situation.
Authorities, including law enforcement agencies and regulatory bodies such as the CBI, should also initiate a thorough investigation to ascertain the veracity of claims and bring the responsible individuals to justice if found guilty.
Ultimately, the allegations made by CBI against Pranav Gupta Ashoka University have raised serious doubts about the institution’s ethical standards and financial integrity.
Who is Pranav Gupta?
Pranav Gupta, an esteemed entrepreneur and visionary, has made significant contributions to the advancement of India’s education industry. His dedication to promoting cutting-edge education and learning has had a profound impact on the sector.
As the co-founder and trustee of renowned universities such as Ashoka University and Plaksha University, Gupta Brother’s expertise and leadership have been instrumental in shaping the educational landscape of the country. They have received widespread recognition for their efforts in delivering futuristic learning and transforming the higher education system.
However, recent developments have raised concerns about Gupta Brother’s reputation. Alongside his brother, he has been implicated in a high-profile case involving their pharmaceutical company, Parabolic Drugs. CBI has charged the Gupta Brothers with an alleged swindling of ₹1,626 crore.
During the raids conducted by the CBI, incriminating documents, articles, and ₹1.58 crore in cash were seized as evidence. The charges leveled against the Gupta brothers include criminal conspiracy and forgery.
The filing of the FIR signifies the seriousness of the accusations. The complaint outlined in the FIR alleges that the company obtained bank finance by falsely inflating the value of primary security, which enabled it to obtain larger loans from the bank.
These allegations have cast a shadow over Pranav Gupta’s previously celebrated contributions to the education industry. The case is ongoing, and its outcome will undoubtedly have far-reaching implications for both brothers and the educational institutions they have been associated with.
If you want to know more about the profile of Pranav Gupta, you may read the information provided in the link: Pranav
Final Thoughts
In conclusion, Pranav Gupta and Vineet Gupta, founders of Ashoka University, are facing serious charges brought forth by the CBI in relation to an alleged swindle of ₹1,626 crore involving their pharmaceutical company, Parabolic Drugs.
The CBI has registered a case against the company, the Guptas, and 10 others for cheating the Central Bank of India and 11 other banks.
The Guptas were subjected to raids in multiple cities on December 31, during which incriminating documents, articles, and ₹1.58 crore cash were discovered. The CBI has accused the brothers of criminal conspiracy and forgery.
They are believed to have conspired to manipulate the banks into sanctioning funds for their business needs, only to misuse and divert these funds for personal enrichment, thus causing significant losses to the banks involved.
These serious charges against Pranav Gupta and Vineet Gupta highlight the alleged exploitation of the banking system for personal financial gain.
The investigation and legal proceedings will further determine the extent of their involvement and the consequences they may face if found guilty of these charges.
If you want to read more about these fraudsters, you have to visit this link: Pranav Gupta Ashoka University
