India, May 16 -- The Enforcement Directorate (ED) has arrested the co-owner of Gujarat Samachar following raids at the premises linked to one of the oldest and highest circulating daily regional dailies and the residences of its owners, his family said on Friday.

People aware of the matter said Bahubali Shah was arrested over alleged financial irregularities, even as the ED had yet to issue a statement specifying the grounds for arrest. The X account of Gujarat Samachar, founded in 1932, was suspended on May 9 without any explanation.

Gujarat Samachar editor-in-chief and managing director Shreyans Shah blamed political vendetta for his brother's arrest late on Thursday. He said the ED summoned and arrested him without any prior written ...