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Choksi's associate arrested, court grants 3-day transit to ED

Press Trust of India  |  Kolkata 

An of a firm linked to fugitive was arrested from Netaji airport here by ED officials under the Prevention of Money Laundering Act, officials said Tuesday.

was arrested Monday night in connection with the money-laundering probe in the USD 2-billion (PNB) fraud case when he landed there from Hong Kong, they said.

He was produced before a city court on Tuesday and Metropolitan Magistrate, 3rd Court, Calcutta, Jyotirmoy Bhattacharyya granted three-day transit sought by the (ED) to take him to Mumbai, where the case was registered.

Kulkarni is allegedly linked to the overseas businesses of Choksi, one of the main accused in the case, and the ED had notified a look out circular against him, the officials said.

Kulkarni was a in a Hong Kong-based "dummy" firm linked to and the ED had named him in a chargesheet filed against the earlier this year.

A court had also issued a non-bailable warrant against him.

Choksi, his and others are being probed under various criminal laws after the fraud came to light this year, following a complaint from PNB that they allegedly cheated the to the tune of about Rs 14,000 crore in connivance with some PNB employees.

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

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, November 06 2018. 19:40 IST
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