It seems to be a bad day for Congress leaders and their kin. After it proved hard for P Chidambaram to get relief from the Supreme Court, a court in Delhi refused to cancel non-bailable warrant against Congress leader Kamal Nath's nephew Ratul Puri. The same court sent Puri into 6-day custody on Monday. The Enforcement Directorate (ED) arrested him in connection with Rs 354 crore bank fraud case. Puri also faces allegations of receiving kickbacks in AugustaWestland deal. A Non-Bailable Warrant had been issued against him.
On Tuesday, Puri filed a plea before Rouse Avenue Court in New Delhi and requested cancellation or a stay on the non-bailable warrant against him. But the court refused to give him any relief.
Ratul Puri is former executive director of now-defunct Moser Baer India Limited (MBIL). Moser Baer was a leading name in the manufacture of electronic storage devices such as CDs, flash drives etc.
Central Bank of India has accused senior management of MBIL of misappropriation of funds it borrowed from the bank. The bank has alleged the funds, borrowed by Moser Baer for business purposes, were privately used by the senior management which included Ratul Puri. On the basis of the complaint from Central Bank of India, the CBI has already filed an FIR against Puri in connection with the alleged Rs 354 crore fraud.