TIL Desk/National/New Delhi/ Ratul Puri, the nephew of Madhya Pradesh Chief Minister Kamal Nath, was arrested this morning by the Enforcement Directorate in connection with an alleged Rs 354 crore bank fraud.
Ratul Puri is a former senior executive of electronics firm Moser Baer. He and four directors have been charged by the CBI in a complaint filed by state-run Central Bank of India, which alleged that the company had taken loans from various banks since 2009 and misused the money.
The company’s directors are accused of forging documents to extract funds and cheating the Central Bank of Rs 354 crore. The CBI had filed a First Information Report in the alleged bank fraud case and had raided six locations on Monday.
Those charged include the company Moser Baer, its managing director Deepak Puri, and directors Nita Puri, Sanjay Jain and Vineet Sharma. Moser Baer was involved in the manufacture of digital data storage media like compact discs, DVDs, solid state storage devices. The company shut down last year.
