ED arrests company promoter in Rs 25,000 cr bank loan fraud

PTI, Jul 11, 2024, 6:13 PM IST

The Enforcement Directorate on Thursday said it has arrested the director of an insolvent automotive equipment manufacturing company as part of a money laundering probe linked to an alleged Rs 25,000-crore bank loan fraud case.

Arvind Dham, the promoter and one of the directors of the Amtek Group, was taken into custody on Tuesday (July 9), it said in a statement.

A special Prevention of Money Laundering Act (PMLA) court in Delhi sent him to seven days Enforcement Directorate (ED) custody after he was produced before it on Wednesday.

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