New Delhi: Enforcement Directorate has arrested the Chief Managing Director of an IT firm in connection with a bank fraud case amounting to more than Rs 800 crores.
The accused, Sunil Surendrakumar Kakkad has been booked under the Prevention of Money Laundering Act (PMLA), 2002.
“ED arrests Sunil Surendrakumar Kakkad, Chief Managing Director of M/s. Sai Infosystem (I) Ltd, M/s Atrium Infocomm Pvt. Ltd, M/s Click Telecom Pvt.
Ltd. under PMLA in a bank fraud case amounting to Rs 867.43 crores,” tweeted Enforcement Directorate on Saturday.
Further details are awaited.