Ratul Puri, the nephew of Madhya Pradesh Chief Minister Kamal Nath, was detained by the Enforcement Directorate in connection with the supposed case of Rs. 354 crore bank fraud.
The Central Bureau of Investigation also submitted the First Information Report in the bank fraud and raided six places on Monday.
Mr. Puri is a former senior director of the Moser Baer electronics company. He and four managers were prosecuted by the CBI in a complaint lodged by the state-run Central Bank of India. Those accused include Moser Baer, its managing director Deepak Puri, and Nita Puri, Sanjay Jain and Vineet Sharma.
