THE enforcement Directorate (ED) on Tuesday arrested the manager of Kotak Mahindra Bank in connection with a money laundering case. The manager allegedly was involved in the illegal conversion of money in the Paras Mal Lodha and Rohit Tandon cases.
The manager identified as Ashish Kumar and was posted in Kasturba Gandhi Marg area branch New Delhi. Income Tax department earlier seized Rs 39 Crore from at least nine fake accounts being operated under various names by one Ramesh Chand and Raj Kumar in Kotak Mahindra Bank’s Kasturba Gandhi Marg branch in Central Delhi.
On November 21, Kolkata-based businessman Paras Mal Lodha was held from Mumbai by ED, after they recovered huge cache of new currency notes of Rs 500 & and Rs 2, 000 from a Delhi law firm which belonged to advocate Rohit Tandon and Chennai based businessman Sekhar Reddy. I-T officials also claimed that they have seized Rs 132 crore in currency notes including Rs 34 crore in 2,000 notes, and 177 kg gold, from 14 of Reddy’s premises. Reddy, a contractor, had reportedly executed a lot of work for the Tamil Nadu government.