Ratul Puri booked by CBI in Rs 354-crore bank fraud case
By : Legal Era
Update: 2019-08-19 11:21 GMT
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Madhya Pradesh Chief Minister Kamal Nath’s nephew, Ratul Puri who was a former Executive Director of Moser Baer has been booked by the Central Bureau of Investigation (CBI) with respect to money laundering worth Rs. 354 crores. The case was filed by the Central Bank of India.Besides Ratul, his parents Deepak Puri and Nita Puri who continue to be on the Board of Directors as also Sanjay Jain...
Madhya Pradesh Chief Minister Kamal Nath’s nephew, Ratul Puri who was a former Executive Director of Moser Baer has been booked by the Central Bureau of Investigation (CBI) with respect to money laundering worth Rs. 354 crores. The case was filed by the Central Bank of India.
Besides Ratul, his parents Deepak Puri and Nita Puri who continue to be on the Board of Directors as also Sanjay Jain and Vineet Sharma have been charged for alleged criminal conspiracy, cheating, forgery and corruption. Ratul had resigned from the post of Executive Director in 2012.
The CBI carried out searches in six locations including their residences and offices.
According to the bank, the company and its directors forged and fabricated documents in order to induce the bank to disburse funds. According to the bank, such fraud has caused them a loss to the tune of Rs. 354.51 crores as on November 2014.
Ratul Puri is also linked to the money laundering case in the AugustaWestland Chopper scam in which he was granted interim protection from arrest by the Delhi High Court till August 20, 2019.
The Income Tax Deprtment had seized a bungalow and under the anti-benami transactions law and also attached Foreign Direct Investments worth Rs 4 crore during its investigation.