CBI registers case against Paramount Airways

Raids premises of its promoter Thyagrajan

May 05, 2016 12:34 pm | Updated 04:09 pm IST - New Delhi

The CBI has registered case against promoters of Paramount Airways on allegations of defrauding, diverting loan amount and cheating public sector banks.

Searches were being carried out at seven locations at Chennai and Madurai, including residential and office premises of its promoter Thyagrajan and the company functionaries.

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