Madhya Pradesh Chief Minister’s Nephew Arrested In 354-Crore Bank Fraud

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Ratul Puri is the nephew of Madhya Pradesh Chief Minister Kamal Nath.

New Delhi:

Ratul Puri, the nephew of Madhya Pradesh Chief Minister Kamal Nath, has been arrested by the Enforcement Directorate in connection with an alleged Rs 354 crore bank fraud case.

The Central Bureau of Investigation had also filed a First Information Report in the alleged bank fraud case and raided six locations on Monday.

Mr 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.

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Those charged include the company Moser Baer, its managing director Deepak Puri, and directors Nita Puri, Sanjay Jain and Vineet Sharma.

Mr Puri has been the subject of a number of separate investigations in recent months ranging from tax fraud to the AgustaWestland chopper scam. He maintains that he is innocent.

On Saturday last, he told a Delhi court he was willing to join the probe into the chopper scam, while seeking cancellation of a warrant without scope for bail issued against him.

The arrest comes a day after the probe agency told a court in Delhi on Monday that Mr Puri has been evading investigation into an alleged money laundering case involving the AgustaWestland chopper deal.

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