New Delhi, Jan. 8 -- The Enforcement Directorate (ED), Mumbai Zonal Office, said on Thursday that it has arrested Prateek Kanakia, the CEO of 'The Green Billions Limited' (TGBL), in connection with a money-laundering case involving Rs 47.32 crore.
The ED said Prateek Kanakia was arrested and produced before a Special PMLA Court, which remanded him to ED custody till January 9.
The ED investigation revealed that the accused fraudulently availed and diverted a loan amounting to Rs 50 crore from Broadcast Engineering Consultants India Limited (BECIL), a Government of India Public Sector Undertaking, causing wrongful loss to the PSU.
During 2018, the Pune Municipal Corporation (PMC) issued an Expression of Interest (EOI) for setting up and o...