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ED arrests Hyderabad-based firm promoter in Rs 1,768 core bank fraud case

Wednesday, January 15, 2020, 9:19 PM

The ED has arrested Leo Meridian Infrastructure Projects & Hotels Ltd (LMIPHL) promoter GSC Raju and his close associate AV Prasad in a Rs.1,768-crore bank-fraud-case. The Special PMLA Court in Hyderabad has directed both the accused to be sent to ED custody for seven days. Sources also told India Today TV the Raju and his family owned 95% of the company without any investment.