The CBI today arrested Hasmukh Shah, an ex-director and authorised signatory of Forever Precious Jewellery and diamonds Ltd also known as Winsome diamonds group, which has allegedly defaulted on loans worth thousands of crore, officials said.
It was alleged that Shah was man Friday of Jatin Mehta, an absconding accused in the case, who is believed to have escaped to Saint Kitts in the Caribbeans. Shah was allegedly orchestrating the export-import operations of the company, the officials said.
He was also allegedly liasioning with the banks, they said.
The agency had registered multiple cases against the company last year.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)