Chennai Pharma Firm Under ED Net in Rs 637 Crore Bank Fraud Case
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Chennai: The Enforcement Directorate (ED) has launched multi-state raids across Tamil Nadu, West Bengal, and Goa, targeting Chennai-based pharmaceutical company Arvind Remedies and its promoter Arvind B. Shah in connection with a Rs 637 crore bank loan fraud.
The action comes as part of an ongoing money laundering investigation under the Prevention of Money Laundering Act (PMLA), following allegations that the company defrauded a consortium of banks led by Punjab National Bank (PNB).
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