Kolkata: Kolkata businessman Parasmal Lodha has been arrested by the Enforcement directorate for allegedly converting over Rs. 25 crore old currency into new notes associated with another businessman Sekhar Reddy and lawyer Rohit Tandon.
Industrialist J Shekhar Reddy and his associate K Srinivasulu were arrested on Wednesday in connection with an illegal exchange of demonetised currency notes in contravention of RBI guidelines.
Lodha was earlier detained from Mumbai airport after it came to light that the 13 crore retrieved from the office of lawyer Rohit Tandon belonged to Parasmal Lodha.
Lodha’s daughter was recently married in a lavish wedding ceremony organized in Delhi which was attended by top bureaucrats, politicians and many Bolloywood stars attended the wedding.
Earlier, Enforcement Directorate and CBI on Thursday carried out raids at co-operative banks in different parts of Kerala.
While raids were conducted at Kannur, Kozhikode, and Thrissur by the ED, the CBI officials conducted inspections of records of district co-operative banks in Kollam and Malappuram. They are checking the records of deposits after November 8.