Kanishk Gold MD arrested

 

The MD of Chennai based jewellery merchandise Bhoopesh Kumar Jain was arrested by the ED yesterday. Bhoopesh was facing charges for defaulting the banks with loans worth more than 800 crores. He was produced before a metropolitan magistrate court and remanded in judicial custody till June 8. The complaint alleged that he had obtained huge loans from 14 banks for business purposes. However he has obtained these loans against fraudulent records.