After being on the run from law for nine years, the most wanted fugitive in the multi-crore Indian Bank scam, M Varadharajalu, was arrested here today following his deportation from Dubai. | |
| Sixtyfive-year-old Varadharajalu, chairman of MVR Group of Industries, against whom the Central Bureau of Investigation (CBI) had secured a red corner notice, was detained at the Dubai airport recently after which the port-city authority informed the agency, which sent a team to seek his deportation, a CBI spokesman said here. |
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| Varadharajalu, wanted in 10 cases registered by the CBI in connection with the Indian Bank scam, fled the country to Singapore in 1996 and from there he reached France, he said. |
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| He obtained French citizenship and evaded arrest since the time he fled India. Varadharajalu is accused of defrauding the Indian Bank of several hundred crores of rupees in connivance of the bank officials. The cases are pending trial in a court in Chennai. |
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| There are five cases registered by the economic offences wing, Chennai, three by the bank securities and fraud cell, Bangalore, and two by the CBI anti-corruption branch, Chennai. Charg-esheets have been filed in all these cases and the trial is pending. |
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| The fraud was committed by various companies connected with Varadharajalu like MVR Exports, MVR Industries, Mou-ntamount Singapore Pvt Ltd, Nagova Exim Pvt Ltd and Sathyam Chemicals, he alleged. |
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| Varadharajalu had in 2001 survived CBI's efforts for his extradition from France as the French government refused to extradite him, he said. |
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| However, with persistent efforts made by the CBI with the help of the external affairs ministry, Indian ambassador to the UAE Sudhir Vyas and with the co-operation of the Dubai government, he had been deported to India, the spokesman said. |
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