The Central Bureau of Investigation (CBI) arrested a managing director of a New Delhi-based firm on Monday in connection with a Rs 512.67 crore bank fraud investigation.
Avinash Jain, the director of Arise India Limited, a company that produces electrical goods, has been identified as the accused.
In 2020, a case was filed against a private company based in Mangala Puri and others on allegations of causing banks to lose approximately Rs 512.67 crore.
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