Wednesday, April 14, 2021
Home News Reports Ratul Puri, Madhya Pradesh CM Kamal Nath's nephew arrested by the ED in connection...

Ratul Puri, Madhya Pradesh CM Kamal Nath’s nephew arrested by the ED in connection with Rs 354 crore bank fraud case

According to the FIR, a case of cheating, forgery and criminal conspiracy has been lodged against Moser Baer India Limited, then executive director Ratul Puri and others.

The Enforcement Directorate (ED) today arrested Ratul Puri, Madhya Pradesh Chief Minister and senior Congress leader Kamal Nath’s nephew, from Delhi in connection with a Rs 354 crore bank fraud case.

According to the reports, the Central Bureau of Investigation (CBI) had on Monday booked Puri, the then former executive director of Moser Baer, Deepak Puri, Nita Puri and others for defrauding the Central Bank of India to the tune of Rs 354.51 crore.

Moser Baer has released a statement and called the arrest of Puri ‘unfortunate’. “Moser Baer had operated in accordance with all legal compliances and this case now, when Moser Baer is in National Company Law Tribunal (NCLT), is motivated,” the company said in its statement.

According to the FIR, a case of cheating, forgery and criminal conspiracy has been lodged against Moser Baer India Limited, then executive director Ratul Puri, managing director Deepak Puri, full-time director Nita Puri, director Sanjay Jain, director Vineet Sharma, unknown public servants and unknown persons.

Ratul Puri had resigned from the post of executive director in 2012, while his parents continue to be on the board, the bank said in a statement.

Moser Baer was involved in the manufacture of optical storage media like compact discs, DVDs, solid-state storage devices.

The company had taken 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. When the company was unable to pay the debt, a forensic audit was done and the account was declared as “fraud” by the Central Bank of India on April 20, 2019, it has alleged.

“The MBIL has committed fraud and cheated the complainant bank thereby making a wrongful gain to themselves and a wrongful loss to the lender bank which is a custodian of public money,” the complaint to the CBI said.

On Monday, the Enforcement Directorate (ED) also began to tighten the noose for Ratul Puri after the agency told a court in New Delhi that Ratul Puri was evading probe in the AgustaWestland chopper scam-related money laundering case.

The VVIP chopper case pertains to alleged irregularities in the purchase of 12 VVIP choppers from Italy-based Finmeccanica’s British subsidiary, AgustaWestland. According to the ED, the proceeds of the crime have been deposited in the accounts of different companies owned by Ratul Puri.

Note: We have updated the story with the latest information. 

  Support Us  

Whether NDTV or 'The Wire', they never have to worry about funds. In name of saving democracy, they get money from various sources. We need your support to fight them. Please contribute whatever you can afford

OpIndia Staffhttps://www.opindia.com
Staff reporter at OpIndia

Related Articles

Trending now

Mayor Sadiq Khan vows to bring the Indian Premier League to London to boost his reelection chances: Details

London mayor Sadiq Khan promises to bring the Indian Premier League to the British capital as part of his reelection campaign.

BBC Urdu documentary reveals how state-sanctioned Pakistani textbooks demonize Hindus

BBC Urdu published a video on YouTube highlighting the prejudice against Hindus that textbooks in Pakistan advocate.

Constant ‘beheading’ threats by Islamists: Hindus come out in large numbers to support Yati Narsinghanand Saraswati, demand security for him

Enraged by the Muslim politicians and religious groups openly issuing death threats, Hindus come together to support Yati Narsinghanand Saraswati.

Here’s why lockdown is no longer an option and imposing another at this point makes no sense at all

Not imposing a lockdown may be a bad choice but imposing it to combat Covid-19 will prove to be infinitely worse.

Japan to release treated water from Fukushima nuclear plant into the ocean: USA, IAEA support, China condemns

Japan has long delayed the decision to dispose of the wastewater from the Fukushima Daiichi nuclear plant over criticisms and safety concerns.

The direct fall-out of not implementing farm laws: Punjab Farmers say Arhtiyas asking for signed blank cheques for helping in crop procurement

Farmers across Punjab are being told by their arhtiyas to furnish "signed blank cheques" if they want to get their produce auctioned in the mandis

Recently Popular

Pfizer wanted Brazil, Argentina to put military bases, Federal reserve as collateral: Why India kept Pfizer away and how the usual suspects are wrong

Pfizer has been accused of countries in Latin America of pledging their sovereign assets, military bases and financial reserves to protect itself from any adverse fallout of the vaccine

After explosive Clubhouse confessions, Prashant Kishor starts building ground to blame only Mamata Banerjee if Bengal is lost: Here’s how

While trying to fire-fight fall-out from Clubhouse conversation, Prashant Kishor has set narrative to blame Mamata Banerjee and TMC for West Bengal loss

Attempts to draw false equivalence between the Kumbh Mela and Tablighi Jamaat congregation do not make sense: Here’s why

Attempts are being made to draw false equivalences between the Kumbh Mela and the Tablighi Jamaat congregation last year.

India has to become a ‘Hindu Rashtra’, or it will be turned into an Islamic nation by 2030: Kerala MLA

"Can we let this nation (go) to any particular community? This needs to be discussed. Somebody has to speak up," PC George emphasised.

OpIndia Exclusive: Tata Communications suffers data leak, hackers claim to have sold access to company’s servers, over 50GB data still up for sale

As per two posts by hackers on a hackers' forum, they have gained access to Tata Communications servers and sold them.

What happened in Chhabra after Hindu man was stabbed by Muslim men: Call for peace, attack on a Hindu the next day and more

On April 12, the administration extended curfew for one more day at Chhabra, Baran district in Rajasthan after the communal riot
- Advertisement -

 

Connect with us

254,077FansLike
528,917FollowersFollow
24,200SubscribersSubscribe