Court extends Ratul Puri's ED custody by 4 days in bank fraud case

A Delhi court on Friday extended the Enforcement Directorate (ED) custody of businessman Ratul Puri by four days in connection with a bank fraud case.

Special CBI judge Sanjay Garg sent Puri, nephew of Madhya Pradesh Chief Minister Kamal Nath, to custody till September 3.

During the proceedings, Special Public Prosecutor DP Singh, while seeking the extension of custody, told the court that 11 more witnesses have to be confronted with the businessman.

Advocate Vijay Aggarwal, who is representing Puri, did not oppose the ED remand "in an endeavour to cooperate" in the investigation. "In an endeavour to cooperate with the ED, we are not opposing remand," he said.

Puri was arrested by the ED on August 19 in connection with the Rs 354-crore bank fraud case.

A case of cheating, forgery and criminal conspiracy was lodged against Moser Baer India Ltd, its then-executive director Puri and others.

He is accused of misusing the funds released by banks and channelling them for personal and other purposes.

Puri, who was the company's promoter and executive director till 2012, allegedly forged and fabricated documents to get bank loans.