Manpreet Singh Chadha, son of late liquor baron Ponty Chadha, was arrested on Wednesday night from the Delhi airport in connection with a Rs 100 crore fraud case.
Chadha, the vice-chairman of the Wave Group, was arrested by the Economic Offences Wing (EOW) of the Delhi Police.
According to the police, Chadha was trying to fly to Thailand’s Phuket from New Delhi’s Indira Gandhi International Airport.
He will be produced before a magistrate today.
A Look Out Circular (LOC) was issued against Chadha earlier this year. Airport’s security staff and immigration officers were thus on alert.
A case of cheating was registered against Chadha and other promoters of the Wave Group. The case pertains to duping investors of over Rs 100 crore with the promise of a Hi-tech township project along the NH-24, which was never fulfilled.
Ponty Chadha, Manpreet’s father and controversial liquor baron, was killed in a shootout at his New Delhi farmhouse on 17 November 2012 by his estranged brother Hardeep Singh Chadha, who, too, was killed in the same incident.