Kamal Nath’s nephew arrested for fraud
August 21, 2019
Ratul Puri, the nephew of Madhya Pradesh Chief Minister Kamal Nath has been arrested by the Enforcement Directorate (ED) for his role in an alleged ₹354 crore bank fraud case.
He has been arrested as per the provisions of the Prevention of Money Laundering Act.
Ratul has been under investigation for past several months for his role in involvement in various illegal activities such as a tax fraud and bribing in the AgustaWestland chopper scam.
The AgustaWestland chopper scam is about a ₹3,600 crore deal with the Italian helicopter manufacturers during the Congress-led UPA in 2007.
Enforcement Directorate, CBI and the Income Tax department all three agencies are investigating Ratul Puri in various cases.
Ratul and his father Deepak Puri who is also the founder of electronics company Moser Baer have already been booked by the CBI in the bank fraud case. An FIR was filed by the CBI on Monday and raids were conducted at six locations.
Speaking to media CM Kamal Nath said, "To start with I have no connection with the business they are doing. I am neither a shareholder, nor a director." He added, "To me it appears to be purely malafide action. I have full faith the courts will take a corrective stand in this,"
According to a complaint filed by the Central Bank of India, the company had taken loans from various banks since 2009 and misused the money. Puri and four former directors of Moser Baer are accused of using forged documents to con the banks of ₹354 crore.
Moser Baer was the manufacturer of digital data storage devices like compact discs, DVDs, and was shut down last year.
"Last time ED wanted to arrest MP CM Kamalnath's nephew Ratul Puri in #AgustaWestlandScam but he escaped from the ED office and applied for the protection from arresting, which was granted by lower court. ED challenged this in DHC, today before hearing Ratul Puri Arrested," tweeted Jitender Sharma of Zee News