Enforcement Directorate (ED) has arrested Ratul Puri from Delhi in connection with a Rs 354 crore bank fraud case. In a fresh trouble for Madhya Pradesh Chief Minister Kamal Nath's nephew Ratul Puri, the Central Bureau of Investigation (CBI) had filed an FIR against him, Deepak Puri, Nita Puri and others for defrauding the Central Bank of India to the tune of Rs 354.51 crore.
The ED initiated an investigation in this case on Monday.
Ratul Puri had interim protection from arrest by the Delhi High Court in the AgustaWestland case till Tuesday. A non-bailable warrant against Ratul Puri was already issued by a Delhi court in connection with AgustaWestland scam, which the Enforcement Directorate (ED) is probing.
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.
According to CBI, on August 16, a complaint was received from the Central Bank of India for cheating the bank to the tune of Rs 354.51 crore.
Moser Baer was 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 Central Bank of India has claimed in the complaint filed with CBI.
It has been alleged that when it was unable to pay the debt, a forensic audit was done and the account was declared as "fraud" by the Central Bank of India in April 2019.
"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," read the CBI FIR.