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Madhya Pradesh CM Kamal Nath's nephew arrested in Rs 354 crore bank fraud case


SUKIRTI MISHRA 20/08/2019 13:12:09
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New Delhi. The Enforcement Directorate has arrested Madhya Pradesh CM Kamal Nath's nephew- Ratul Puri regarding Rs 354-crore bank fraud case. Ratul Puri has been the former executive director of Moser Baer. He was arrested under the provisions of the Prevention of Money Laundering Act (PMLA) late Monday night and will be produced before a court Tuesday, revealed the sources. 
CM Kamal Nath said the arrest was “purely mala fide action”. “I have no connection with the business they are doing. To me, it appears to be a purely mala fide action. I have full faith that courts will take corrective stand in this.” 

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CBI had raided 6 locations including the offices and residences of the former and present directors of the company. The FIR has been lodged against Puri, the company Moser Baer and four other directors of the firm including MD and Ratul’s father, Deepak Puri, Nita Puri, Sanjay Jain and Vineet Sharma. They have been booked for cheating, forgery, criminal conspiracy and corruption. 
The Central Bank of India has alleged that the Moser Baer group has taken various credit facilities worth about Rs 1,962 crore from different banks over the period. The bank had extended credit facilities of over Rs 332 crore to the company till November, 2011. 

 

 

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