Mumbai: Cox and Kings promoter Peter Kerkar, who was arrested by the Enforcement Directorate (ED) in an alleged money laundering case on Thursday, has been remanded to the agency custody till December 3 on Friday.Also Read - Ahead of Polls, ED Raids Punjab CM's Nephew In Illegal Sand Mining Case; Congress Says 'BJP's Election Campaign Begins'

Earlier in the day, the ED took Peter Kerkar to a hospital for his medical examination. Also Read - Aishwarya Rai Summoned by ED in Panama Papers Case

The ED had on Thursday arrested Peter Kerkar under various sections of the Prevention of Money Laundering Act (PMLA) in a case linked to the alleged loan default at the Yes Bank. He was produced before a court later today. Also Read - Jacqueline Fernandez Summoned by ED in Rs 200 cr Extortion Case After Viral Picture With Sukesh Chandrasekhar

Prior to this, the economic offences watchdog had arrested Cox and Kings Group (CKG) CFO Anil Khandelwal and Internal Auditor Naresh Jain in the matter.

The ED had earlier said that the investigation in the matter had revealed that Cox and Kings Group had forged its consolidated financials by manipulating the balance sheets of overseas subsidiaries and added that some board resolutions submitted to banks for sanctioning the loans were also found to be forged.

According to sources, Cox and Kings Group was one of the biggest borrowers of Yes Bank with an approximate exposure of Rs 2,285 crore.

(With inputs from ANI)