Earlier today, the ED continued its searches against the pharma company Parabolic Drugs for the second day and widened its net by including the Ashoka Universitys corporate and registered offices in Delhi and the campus in Haryanas Sonepat under its probe net.

Rs 1,626 Crore Money Laundering Case: Ashoka University Co-Founders Sent To 5 Days Remand

The Enforcement Directorate on Saturday arrested two promoters of Chandigarh-based pharma company Parabolic Drugs and a company CA in a money laundering investigation linked to an alleged bank fraud, official sources said.



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ED arrests 2 promoters, CA of Parabolic Drugs in money laundering case

The three are expected to be produced before a special PMLA court in Chandigarh where the ED will seek their custody.

Bank Fraud: ED Arrests Two Promoters, CA Of Parabolic Drugs In Money Laundering Case

On December 31, CBI had booked top executives of Chandigarh-based Parabolic Drugs for allegedly defrauding a consortium led by the Central Bank of India (CBI) of Rs 1626.74 crore.

Have nothing to do with CBI’s investigation of co-founders: Ashoka University

Parabolic Drugs reports standalone net loss of Rs 0.06 crore in the December 2020 quarter

BRIEF-Parabolic Drugs Says Shares Of Co Cancelled Without Any Payout To Shareholders

Parabolic Drugs reports standalone net loss of Rs 7.22 crore in the March 2020 quarter

Hasn't fared well - amongst the low performers

Performance

Seems to be overvalued vs the market average

Valuation

Lagging behind the market in financials growth

Growth

Profitability and efficiency haven't been upto the mark

Profitability

Fundamentals

Good time to consider, stock is not in the overbought zone

Technicals

Entry point

The stock has a moderate number of red flags

Promoter pledged holding

Unsolicited messages

Default probability

Red flags

Parabolic Drugs Limited is an integrated, research-based, pharmaceutical manufacturer and exporter, engaged in development and manufacturing of Active Pharmaceutical Ingredients (API) and API intermediates.