Law & Governance

ED Arrests Madhya Pradesh CM’s Nephew Ratul Puri In Bank Fraud Case

BP World Bureau | Aug 20 2019 11:19:42 AM

NEW DELHI: Madhya Pradesh Chief Minister Kamal Nath’s nephew Ratul Puri has been arrested by the Enforcement Directorate for having a connection with an Rs 354-crore bank fraud case filed by Central Bank of India.

The CBI had booked Puri, who is the former Executive Director of Moser Baer and some others in connection with the bank fraud case, said the officials.

The bank officials added that Ratul Puri had resigned from the post of Executive Director in 2012, and later his parents continued to be on the board.

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As per the reports, the Central Bureau of Investigation (CBI) has registered a case against Puri, his father and Managing Director Deepak Puri, his company, 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 Enforcement Directorate took the action after three days of registering the case.

Rakul's company was taking loans from various banks since 2009 and went for debt a number of times.

According to the CBI FIR reports, the company is also involved in the manufacture of optical storage media like compact discs, DVDs, solid-state storage devices.

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He had interim protection from arrest by the Delhi High Court in the AgustaWestland case till Tuesday. A non-bailable warrant was also issued against Ratul Puri by a Delhi court in connection with AgustaWestland scam, which the Enforcement Directorate (ED) is probing.