City
Epaper

Ratul Puri in 14-day custody in bank fraud case

By IANS | Updated: September 3, 2019 19:45 IST

A Delhi Court on Tuesday remanded Ratul Puri to 14-day judicial custody till September 17 in connection with the MoserBaer bank fraud case. Special CBI Judge Sanjay Garg passed the custody order after the Enforcement Directorate (ED) said it didn't need his further custodial remand.

Open in App

The counsel for Puri moved three applications seeking supply of certain medicines, prescribed by the RML Hospital, separate vehicle for transportation and bedding in jail as the accused suffered from back problem.

Allowing the applications, the court said, "The Jail Superintendent is directed to provide necessary medicines in consultation with the jail doctor. As far as remaining prayers are concerned, the Jail Superintendent shall consider the same as per the jail manual."

The ED arrested Puri, nephew of Madhya Pradesh Chief Minister Kamal Nath, in a money laundering case under the Prevention of Money Laundering Act (PMLA) based on an FIR by the Central Bureau of Investigation (CBI) against Moser Baer India (MBIL) and others.

An ED source told , "Investigation has revealed that Moser Baer had bought Blue Ray discs from Pacific International FZE, a company of Rajiv Saxena, which purchased the same from Singulus Technologies, Germany."

The total quantum of purchase was approximately $3.3 million and price differential per unit was "double" the amount, he said and added, "Investigation has revealed that Puri was the beneficiary of the said tainted money, generated by diverting bank funds through over-invoicing."

He said Saxena started the business of supplying solar power panels to Moser Baer Group from Midas Metals International, which were sourced from West Asia Trading and Enertec. "The said companies belong to Puri and were used for earning a profit margin and diversion of funds," he said.

The total quantum of business undertaken herein was Rs 1,492.36 crore, he added.

According to the ED source, Puri was the Executive Director of Moser Baer till 2012, but he remained in the "decision making" of Moser Baer and was a "key" figure in the day-to-day functioning.

( With inputs from IANS )

Tags: puriMoser BaerSaxenaMoser Baer India
Open in App

Related Stories

NationalRahul Gandhi on Odisha Stampede: "Protecting Lives Is Paramount, No Lapses in Responsibility Are Acceptable"

NationalPuri Temple Stampede: Odisha CM Suspends Two Senior Cops, Transfers Collector and SP

LifestyleJagannath Rath Yatra 2025 Live Streaming: Watch Online Telecast of Chariot Festival Celebration From Puri

LifestylePuri Jagannath Rath Yatra 2025 Date and Timings: Check Details of ISKCON's Rath Yatra Celebration in Odisha

LifestyleOdisha: Snana Yatra of Lord Jagannath and Siblings Begins in Puri; Check Full Snana Purnima Schedule

National Realted Stories

NationalArunachal Guv congratulates Kabak Yano for scaling Mount Kilimanjaro

NationalAndhra Pradesh’s NDA govt extends Rs 1 lakh aid for Hajj pilgrims

NationalFPOs need to step up to play crucial role in food processing and increasing farmers income, says MP CM

NationalNo change in status of tribal belts and blocks in Assam: CM Sarma

NationalOdisha: Health Minister urges centre to expedite LoP for MBBS admissions