Tag: REI Agro MD

Enforcement Directorate arrests REI Agro MD in Rs 3,871 cr fraud case

The Enforcement Directorate (ED) on Friday arrested Sandip Jhunjhunwala, Managing Director of REI Agro Ltd, in connection with a money-laundering investigation against him for allegedly defrauding a consortium of banks to the tune of Rs 3,871.71 crore. Jhunjhunwala is accused of “diverting the fund fraudulently for the purpose other than for which it was sanctioned”. …

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January 5, 2018