Meanwhile, a new name in Volcker net: travel tycoon

A new name has been added to the list of suspects in the Volcker scandal even as the Enforcement Directorate (ED) is preparing to send show-cause notices by end June.

Chetan Gupta, described as a travel tycoon and proprieter of the R L Group of Companies, has been called for lengthy sessions of questioning by ED. Last week, the ED raided the residence and offices of the group.

ED investigators are probing the possibility of his having allegedly ‘‘laundered’’ part of the money received by one of the beneficiaries listed in the Volcker report. When contacted, Gupta confirmed the questioning.

‘‘I was called by the ED for clarifications, I have no more comments to make.’’ he told The Indian Express.