Pune, Sept. 17 -- Archana Kute, head of the Kute Industries Group, absconding after allegedly embezzling billions of rupees, was arrested by the State Criminal Investigation Department (CID) team at Pashan, Pune.
Another woman allegedly involved in the scam was also taken into custody, a CID officer said today.
The Income Tax Department had raided all establishments of the Kute Industries Group last year for large-scale tax evasion and sealed their offices.
As a result, crores of rupees belonging to investors in Gnyandhara Multistate were lost. Several criminal cases were registered across the state against Suresh Kute, Archana Kute, and the board of directors.
Through the Gnyanradha Multistate institution, the accused allegedly misappr...