New Delhi, Aug. 28 -- The Enforcement Directorate (ED) on Thursday said that they have arrested Harish Bagla, the Managing Director of Amrit Feeds Ltd (AFL), in a major money laundering case.
Bagla was arrested on August 26. He was produced before a Special PMLA Court, which remanded him to ED's custody till August 30.
The ED-initiated PMLA investigation, initiated based on a complaint by the Serious Fraud Investigation Office (SFIO), revolves around allegations that AFL syphoned off bank loans and defaulted on repayments totalling Rs 144.68 crore, which were declared non-performing assets in 2015-16.
Published by HT Digital Content Services with permission from United News of India....