<span style="color: #222222;">The Enforcement Directorate has arrested two persons in a case of Money laundering wherein around 425 crore rupees were fraudulently remitted outside the country using 19 dummy Indian entities. ED had initiated an investigation on basis of an FIR registered by Punjab National Bank against 19 entities. <br />''<br />''These entities opened accounts with their Mint Street, Chennai Branch and in a span of six months remitted 425 crore rupees to various entities in Hong Kong and UAE. It said, on verification, the Indian entities were found to be non-existent and the real beneficiaries were found to be the promoter directors of entities outside India who are being brought to book. In this regard, one Vikas Klara had incorporated three entities in Hong Kong of which he was the sole director. Along similar lines, Sidhant Gupta had also incorporated an entity in Hong Kong. The Special Court has sent both the accused to Judicial Custody for 15 days.</span><br />