India

ED detains man ‘aided’ Kamal Nath’s nephew in money laundering linked to bank fraud

Ratul Puri, a businessman and the nephew of prominent Congressman and former chief minister of Madhya Pradesh Kamal Nath, has reportedly been arrested once more by the Enforcement Directorate in connection with an alleged Rs 354 crore bank fraud-related money-laundering case, according to official sources.

The Prevention of Money Laundering Act (PMLA)’s requirements led to the Tuesday arrest of Nitin Bhatnagar, a former relationship manager for the Bank of Singapore. He was brought in front of a local court by the organisation that had him in ED custody until August 31.

The Central Bureau of Investigation (CBI) filed a first information report (FIR) in August 2019 alleging that Moser Baer India Ltd. (MBIL) and its proprietors had defrauded the Central Bank of India of a loan worth Rs 354.51 crore. The case was opened as a result of the bank’s CBI complaint.

Ratul Puri, his mother Nita (Kamal Nath’s sister), and both the CBI and the ED had arrested them. In this case, Ratul Puri was detained by the ED in 2019, and he is currently free on bail.

TDG Network

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