A Delhi court on Friday extended till October 3 the judicial custody of businessman Ratul Puri in connection with a Rs 354-crore bank fraud case.
Special Judge Sanjay Garg extended Puri's custody after he was produced before the court on the expiry of his remand period. He was arrested by the Enforcement Directorate (ED) on August 19.
The case arises out of an FIR filed by the Central Bureau of Investigation (CBI) against Moser Baer India Limited, Puri, and four others, on August 16, on a complaint filed by the Central Bank of India.
Puri, a former executive director of digital data storage company Moser Baer India Ltd, was arrested by the ED under the Prevention of Money Laundering Act (PMLA) after the CBI registered the case.
A nephew of Madhya Pradesh Chief Minister Kamal Nath, Puri is accused of misusing the funds released by banks and channelling them for personal and other purposes. He also allegedly forged and fabricated documents to get bank loans.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)