Kolkata: Ruia Group Chairman Pawan Ruia was arrested by West Bengal CID from his New Delhi residence on Saturday.
Officers of Bengal CID arrested him from Delhi on the basis of complaint lodged from Indian Railways.
Ruia, as the head of the group, faces charges of theft from the factory of Jessop and Co. Ltd, a closed engineering firm.
The Ruia Group also controls tyre maker Dunlop India Ltd, which too has suspended operations. Ruia was asked to report at the CID headquarters repeatedly in Kolkata, but he did not turn up.
Ruia, his family and associates are the owners of Jessop but neither he nor his family members hold any position in it. They control Jessop through a maze of overseas companies. The Ruia Group has so far maintained that it has no control over the factory assets.
The police have accused Ruia of flouting a court order by not properly securing the factory’s perimeter. “More than 70 places in the boundary wall are broken,” said a CID officer.