CBI has arrested the Chairman and two directors of a listed company in Ahmedabad for allegedly defrauding Andhra Bank of around 21 crore rupees by submitting fake and forged documents. The Chairman and Managing Director Subash C Mehta and his two sons working as Directors of the company Pradeep and Deepak were arrested by the agency.<br/><br/>CBI conducted searches at the premises of the accused persons and the company, Vishal Export Overseas Limited which resulted in recovery of various documents that were being scrutinized for further investigation. A CBI spokesperson said in a release in New Delhi that the arrested were produced before the Additional Chief Judicial Magistrate, Ahmedabad on Thursday, which sent Subhash to judicial custody till April 12 and his sons to two days of police custody.
News On AIR | April 2, 2010 5:54 PM
CBI arrests Chairman and two directors for defrauding Andhra Bank