You are here: Home » Finance » News » Banks
Business Standard

PNB fraud: Mehul Choksi aide Deepak Kulkarni nabbed at Kolkata airport

Kulkarni was a director in a Hong Kong-based "dummy" firm linked to Choksi

Press Trust of India  |  New Delhi 

PNB, Punjab National Bank

The (ED) arrested an of a firm linked to Monday in connection with its money laundering probe in the $2-billion PNB case, officials said.

They added that was apprehended from the after he landed from

Kulkarni was arrested under the Prevention of Money Laundering Act (PMLA) and was expected to be produced before a court Tuesday, the officials said, adding that the ED would seek his transit remand to take him to Mumbai, where the case was registered.

Kulkarni was linked to the overseas businesses of Choksi, one of the main accused in the case, and the ED had notified a Look-out Circular (LoC) against him, the officials said.

He was a in a Hong Kong-based "dummy" firm linked to Choksi, an said, adding that the ED had named him in a chargesheet filed against the earlier this year and a court had also issued a non-bailable warrant against him.

Choksi, his and others are being probed under various criminal laws after the came to light this year, following a complaint from the (PNB) that they allegedly cheated the to the tune of over Rs 130 billion, with the purported involvement of some of its employees.

Both Choksi and Modi are absconding since the case was registered by the ED and the (CBI).

First Published: Mon, November 05 2018. 23:30 IST
RECOMMENDED FOR YOU