The Enforcement Directorate has arrested Ratul Puri, nephew of Madhya Pradesh Chief Minister Kamal Nath, in connection with an alleged bank loan fraud case involving Rs 354.51 crore.
He was arrested on the basis of an FIR registered by the Central Bureau of Investigation (CBI) against Moser Baer India Limited (MBIL) and others.
The ED also arrested his father and Moser Baer Managing Director Deepak Puri, Directors Nita Puri (Ratul’s mother and Kamal Nath’s sister), Sanjay Jain, Vineet Sharma and others for defrauding the Central Bank of India for Rs 354.51 crore.
They were all booked for alleged criminal conspiracy, cheating, forgery and corruption after a complaint from Central Bank of India.
However, Ratul Puri’s company said in a statemet, “Moser Baer had operated in accordance to all legal compliances and this case now, when Moser Baer is in the NCLT, is motivated.”