The Central Bureau of Investigation (CBI) today arrested a real estate developer and a stock broker in connection with the Artha Tatwa (AT) Group chit fund case. They are Mumbai-based stockbroker Deepak C. Parekh and local real estate developer, Dharmendra Bothra.
Sources in CBI said Parekh, who was associated with a stock trading company named Yash Trading and Finance Limited earlier, became the director of Artha Tatwa Capital Limited (ATCL) on May 5, 2009. The ATCL was listed at the Bombay Stock Exchange.
Parekh used to invest AT Group’s money in the stock market. Several influential persons in the state, who had links with AT Group, are said to have made investments in the stock market through him, sources added.
On August 16 this year, the CBI had conducted searches at the residences of Parekh and a lady TV serial producer in Mumbai.
Builder Dharmendra Bothra was earlier quizzed by the CBI regarding his land deal with the Biju Janata Dal (BJD) MLA and party strongman Kalapataru Das’ son Pranab Balabantaray.
Balabantaray had bought a plot in Jaydev Vihar area in the state capital in 2003, but had later sold it off to Bothra.
After their arrest, the special CBI court allowed the Central investigating agency to take Bothra under its remand for four days while the court sent Parekh to judicial custody.
Sources in CBI said Parekh, who was associated with a stock trading company named Yash Trading and Finance Limited earlier, became the director of Artha Tatwa Capital Limited (ATCL) on May 5, 2009. The ATCL was listed at the Bombay Stock Exchange.
Parekh used to invest AT Group’s money in the stock market. Several influential persons in the state, who had links with AT Group, are said to have made investments in the stock market through him, sources added.
On August 16 this year, the CBI had conducted searches at the residences of Parekh and a lady TV serial producer in Mumbai.
Builder Dharmendra Bothra was earlier quizzed by the CBI regarding his land deal with the Biju Janata Dal (BJD) MLA and party strongman Kalapataru Das’ son Pranab Balabantaray.
Balabantaray had bought a plot in Jaydev Vihar area in the state capital in 2003, but had later sold it off to Bothra.
After their arrest, the special CBI court allowed the Central investigating agency to take Bothra under its remand for four days while the court sent Parekh to judicial custody.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%