Money laundering case: ED arrests Kotak bank manager in Delhi

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New Delhi, Dec 28, 2016: Days after a branch of Kotak Mahindra Bank in Delhi came under the Income Tax department’s scanner, the Enforcement Directorate on Wednesday has arrested the branch manager for his alleged links with hawala trader Parasmal Lodha and Delhi-based lawyer Rohit Tandon.

Read More : Rs 13.5 crore seized from Delhi lawyer’s firm

The manager of the New Delhi’s Kasturba Gandhi Marg branch of Kotak Mahindra Bank was arrested in connection with a money laundering case.

Sources in the ED said that the branch manager, Aakash, was arrested for allegedly converting over Rs 25 crore in demonetised notes linked to industrialist J. Sekhar Reddy and lawyer Rohit Tandon.

On December 23, the Income Tax department also carried out raids at the bank branch here.

Akash, a resident of Haryana, would be produced in a Delhi court on Wednesday afternoon.

Lodha, a leading businessman with interests in real estate and mining, was intercepted at the Mumbai airport while he was trying to flee to Malaysia.

Read More: ED arrests hawala trader Paras Lodha from Delhi

Wefornews Bureau

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