{
  "id": 18197991,
  "title": "Mumbai: Special CBI Court Refuses To Discharge CA In Yes Bank-Cox & Kings Loan Default Case",
  "url": "https://urgent.news/2026/11/04/mumbai-special-cbi-court-refuses-to-discharge-ca-in-yes-bank-cox",
  "topic": "world",
  "section": "World",
  "published": "2026-11-04T22:44:59.000Z",
  "source": {
    "name": "Free Press Journal",
    "slug": "free-press-journal",
    "url": "https://www.freepressjournal.in/mumbai/mumbai-special-cbi-court-refuses-to-discharge-ca-in-yes-bank-cox-kings-loan-default-case"
  },
  "original_language": "en",
  "account": "Mumbai, November 4, 2026: The special CBI court on Wednesday denied bail to CA Subramanyam Ganesh, who faces charges related to the Yes Bank-Cox & Kings loan default case. Ganesh was accused of issuing two End-Use Certificates for loans given to Ezeego One Tours and Travels Ltd, a firm associated with Cox & Kings. The court found that Ganesh \"blindly issued certificate without requesting for invoices, bank statements or payment trails,\" indicating that his actions showed a guilty intent. The court added that Ganesh had failed to exercise proper due diligence and acted with gross negligence in issuing the End-Use Certificate, which also lacked a mandatory unique document identification number that every Chartered Accountant should include on their letterhead. Ganesh's defense argued that he did not benefit financially from the loans and had no control over their usage by EOTTL. They claimed that he only acted in his professional capacity, issuing the End-Use Certificates based on documents provided to him by the borrower's authorized representative. The CBI argued that the End-Use Certificate issued by Ganesh on July 31, 2017, was issued without proper due diligence, as the applicant had not checked the capital expenditure for the development of ERP travel software through Verchaska. The prosecution also pointed out that Ganesh did not retain copies of the records reviewed and omitted the Firm Registration Number from his End-Use Certificates, which violated ICAI guidelines. The court stated that the burden was on Ganesh to prove that he issued the certificate in good faith, and emphasized that it was his responsibility to perform fundamental checks.",
  "summary": "Mumbai, November 4, 2026: The special CBI court on Wednesday refused to discharge CA Subramanyam Ganesh, who was booked in connection with the Yes Bank-Cox & Kings loan default case. It is alleged that Ganesh issued two End-Use Certificates in respect of loans disbursed by Yes Bank Limited to Ezeego One Tours and Travels Ltd (EOTTL), a Cox & Kings group firm. While refusing to discharge Ganesh,…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}