Ratul Puri is in ED custody in connection with a bank fraud
A Delhi court on Monday extended custodial interrogation of Ratul Puri, nephew of Madhya Pradesh Chief Minister Kamal Nath, by four days. Puri is currently in the custody of Enforcement Directorate (ED) in connection with a bank loan fraud case.
Special judge Sanjay Garg passed the order on the ED's plea.
The Enforcement Directorate (ED) had arrested Puri on August 20 in the money laundering case arising out of the bank loan fraud case.
Ratul Puri former executive director of now-defunct Moser Baer India Limited (MBIL). Moser Baer was a leading name in the manufacture of electronic storage devices such as CDs, flash drives etc.
Central Bank of India has accused senior management of MBIL of misappropriation of funds it borrowed from the bank. The bank has alleged the funds, borrowed by Moser Baer for business purposes, were privately used by the senior management which included Ratul Puri. On the basis of the complaint from Central Bank of India, the CBI has already filed an FIR against Puri in connection with the alleged Rs 354 crore fraud.
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