New Delhi: The Enforcement Directorate (ED) on Saturday (October 28) arrested two co-founders of Ashoka University for alleged money laundering, according to news reports.Pranav Gupta and Vineet Gupta are promoters of a pharma company named Parabolic Drugs.In 2021, the Central Bureau of Investigation (CBI) had accused them and the pharma company of defrauding a consortium of banks led by the Central Bank of India of Rs 1,626.74 crore.A year later, they had stepped down from their respective posts in the university, Hindustan Times reported.“Ashoka University reiterates that Parabolic Drugs is in no way linked to Ashoka University. Ashoka University has no past or current relationship with Parabolic Drugs, the company being investigated, and any attempt to create a link is without any basis and misleading,” it had said, according to HT.“Vineet and Pranav Gupta are two among the more than 200 founders and donors of Ashoka University, who have contributed to Ashoka’s creation and growth in their personal philanthropic capacity and whose individual businesses have absolutely no bearing on the university,” it had said in a statement.The ED has also arrested a chartered accountant, S.K. Bansal, under the Prevention of Money Laundering Act (PMLA).The arrests came after the ED searched 17 locations linked to the company, including Delhi, Mumbai, Chandigarh, Panchkula and Ambala.