Ratul Puri, the nephew of Madhya Pradesh Chief Minister Kamal Nath, was arrested this morning by the Enforcement Directorate in connection with an alleged Rs 354 crore bank fraud after multiple attempts by him to avoid being caught.
Mr Puri, a former senior executive of the defunct electronics firm Moser Baer, has been charged by the CBI in a complaint filed by state-run Central Bank of India, which alleged that the company had taken loans from various banks since 2009 and misused the money. He and four former directors are accused of forging documents to extract funds and cheat the Central Bank of Rs 354 crore.
The CBI or Central Bureau of Investigation had filed a First Information Report in the bank fraud case and had raided six locations on Monday.
Those charged include the company Moser Baer, its managing director Deepak Puri, and directors Nita Puri, Sanjay Jain and Vineet Sharma.
Moser Baer was involved in the manufacture of digital data storage media like compact discs, DVDs and solid state storage devices. The company shut down last year.
Mr Puri has been the subject of a number of separate investigations in recent months ranging from tax fraud to the AgustaWestland chopper scam involving allegations of bribe to facilitate a Rs 3,600 crore deal for a dozen luxury helicopters to be purchased for top Indian leaders in 2007, when the Congress-led UPA-1 was in power. He maintains that he is innocent.
Yesterday, he was summoned by the Enforcement Directorate in connection with the Agusta case and then told that he was being arrested in the bank fraud case.
The probe agency had told a Delhi court on Monday that Mr Puri has been evading investigation into an alleged money laundering case involving the chopper deal.
On Saturday last, Mr Puri told a Delhi court he was willing to join the probe into the chopper scam, while seeking cancellation of a non-bailable warrant.
On July 26, the 47-year-old businessman allegedly gave investigators the slip after going to the toilet in the middle of his interrogation. The Enforcement Directorate then searched his home and office. A day later, Mr Puri requested a court for protection from arrest, which he got after a week of hearings.
His anticipatory bail was cancelled on August 6 by the same court, which also put out a non-bailable warrant against him.
Mr Puri managed to get a reprieve from arrest till today when he approached the Delhi High Court requesting that the warrant be cancelled. Even before the court’s decision tomorrow, he was arrested.
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Madhya Pradesh Chief Minister’s Nephew Arrested In 354-Crore Bank Fraud – NDTV News