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"Dudhsagar Dairy's Managing Director (MD) Nishit Baxi was arrested today in connection with a cheating case to the tune of Rs 22.50 crore," a police official of Local Crime Branch (LCB), which is investigating the case, said.
AGM Rashmikant Modi was arrested in the same case on Sunday.
The case pertains to selling cattle feed to Maharashtra when Gujarat was facing a severe drought. Cattle feed to the tune of Rs 18.50 crore and Rs three crore was incurred on transportation charges.
Vipul Chaudhary, who was ousted as chairman of the Gujarat Co-operative Milk Marketing Federation (GCMMF), is the chairman of Dudhsagar Dairy, one of the union members of the parent organisation.
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