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20220212

ED arrests Hyderabad jeweller under PMLA in loan fraud case

New Delhi : Enforcement Directorate has arrested Sanjay Agarwal, Managing Partner of Ghanshayamdas Gems and Jewels in a loan fraud case, the agency informed on Sunday.Agarwal was arrested under the Prevention of Money Laundering Act (PMLA) 2002 on Friday in a case in which Hyderabad State Bank of India (SBI) suffered a loss of Rs 67 Crore, the official said. Taking to Twitter, ED wrote, "The agency has arrested Sanjay Agarwal, Managing Partner of Ghanshayamdas Gems and Jewels, under PMLA, 2002 on Friday in a loan fraud case in which SBI, Hyderabad, suffered a loss of Rs 67 Crore." "The Court has remanded the accused to 15 days of judicial custody," ED tweeted further.

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