ED Arrests Madhya Pradesh CM Kamal Nath's Nephew Ratul Puri In Rs 354 Crore Bank Fraud Case
Besides Ratul, the CBI had booked his father and Managing Director Deepak Puri, mother and Director Nita Puri (Kamal Nath's sister), and other Directors Sanjay Jain and Vineet Sharma have been booked, along with the company, Moser Baer India Limited (MBIL).
Businessman Ratul Puri was arrested by Enforcement Directorate (ED) in connection with a bank fraud case, yesterday. He will be produced before a court, today. (file pic) pic.twitter.com/OOepxF3kHF
— ANI (@ANI) August 20, 2019
In the case, the CBI had booked Puri and others in connection with the bank fraud. ED's action came three days after the Central Bureau of Investigation (CBI) registered a case against Puri, his company, his father and Managing Director Deepak Puri, Directors Nita Puri (Ratul's mother and Kamal Nath's sister), Sanjay Jain and Vineet Sharma for alleged criminal conspiracy, cheating, forgery and corruption.
The CBI on Sunday had also carried out searches at six locations, including the residences and offices of the accused directors. They were booked alleged for criminal conspiracy, cheating, forgery, and corruption. Ratul had resigned from the post of executive director in 2012, while his parents continue to be on the board, the bank has said in its complaint to the CBI, which is now part of the FIR.
Ratul had resigned from the post of Executive Director in 2012, while his parents continued to be on the board. The company is involved in the manufacture of optical storage media like compact discs, DVDs, solid-state storage devices.
The company was taking loans from various banks since 2009 and went for debt restructuring a number of times, the bank has alleged in the complaint which is now part of the CBI FIR.
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