ED arrests Kotak Mahindra manager in case of money laundering

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In the progressing battle against the black money, a private bank manager of Kotak Mahindra Bank of KG Marg Branch has been arrested by the Enforcement Directorate on Wednesday in the charge of money laundering case.

Officials said in a statement that, “The manager has been arrested under the provisions of the Prevention of Money Laundering Act and will be produced before the court for further custody”.

After conducting investigations, it was found that the bank manager was acting as a helping in converting old currency to new.

The manager of Kotak Mahindra Bank was arrested by the Enforcement Directorate in connection with the  Kolkata- based businessman Paras Mal Lodha and Delhi-based advocate Rohit Tandon.

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