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DPIL promoters father-sons trio held from Udaipur hotel

Udaipur : In a late night operation, jointly held by the CBI and the Gujarat Anti-Terrorist Squad, three promoters of the Vadodara based Diamond Power Infrastructure Ltd who are accused of defrauding a consortium of 11 banks of a sum of 2654 crore rupees were arrested on Tuesday from a hotel at Paras Tiraha  in Udaipur on  Tuesday.

The team arrested Suresh Bhatnagar and his sons Amit and Sumit who were hiding here. Their company manufatures electric cables and equipments. The CBI had filed the complain a fortnight back and various investigation agencies had conducted raids in the company premises, however, the Bhatnagar trio had absconded. On Tuesday, the  CBI had approached a special court at Ahmedabad and asked to declare the promoters absconders. However, they got a tip off the father and sons hiding in a Udaipur hotel. The agencies swung into action and arrived Udaipur,however, their operation had been so secret that the local authorities didnt have a hint of the raid. According to the authorities, DPIL had fraudulently availed credit facilities from public and private banks from 2008  onwards leading to an outstanding of 2654.40 crores in June 2016.

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