Gurgaon, Jan 3 (PTI) Badge today arrested a chief official of the Hero Group, Sanjay Gupta, in affiliation with the estimated Rs 300 crore Citibank artifice case.
Gupta, who is the Associate Vice President (Accounts) of one of the Hero Accumulation entities -- Hero Corporate Services, has been arrested beneath the area 120B of the Indian Panel Code that deals with bent conspiracy.
He was after produced afore D N Bhardwaj, the Chief Judicial Magistrate cum Additional Civil Judge, Chief Division.
The bounded badge had aftermost anniversary alleged Gupta for analytic forth with Shivraj Puri, the capital accused in the artifice apparent at the Citibank''s Gurgaon branch.
Gurgaon Badge Commissioner S S Deswal had said that Gupta was alleged as allotment of investigations as a above block of the money has gone into allowance firms -- Religare and Bonanza -- whose admiral were additionally alleged for questioning.
The fraud, which is estimated to be Rs 300 crore, relates to mis-selling of advance articles to aerial networth clients.
Puri, as Relationship Manager of the bank, acclimated to advertise advance articles claiming that they would accomplish actual aerial acknowledgment of 18 per cent. He was arrested aftermost anniversary and was beatific to badge aegis for a week.
Last week, Brijmohan Lal Munjal-led Hero Accumulation had accepted that its acknowledgment to the artifice was to the tune of Rs 28.75 crore.
Although the accumulation has maintained that its flagship close Hero Honda has no affiliation with the artifice case, the National Capital-based business abode is bashful on captivation of added BML Munjal-led accumulation entities -- Hero Corporate Services, Rockman Cycles Industries, Hero Mindmine Institute, Easy Bill and Hero Management Service.