Ratul Puri a sidelined face of India

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Ratul Puri, nephew of Madhya Pradesh's CM Kamal Nath, had been arrested in the morning of 20th August, 2019 in a bank fraud case by the Enforcement Directorate.
The Delhi court had sent him in six days of ED's custody.

Moser Baer, a digital data storage manufacturing company, now defunct, had taken loans from many banks since 2009 and misused the amount, as claimed by Central Bank of India.
Ratul Puri parted way from Moser Baer in 2012 and is now the Chairman and Board of Director of Hindustan Powerprojects.

He is involved in many cases ranging from Bank Fraudery to AugustaWestland Chopper scam.
Ratul Puri told the court he was willing to join the probe into AugustaWestland Chopper scam and requested to court to cancel the non-bailable warrant put out against him.

In a statement, Moser Baer said: "Moser Baer had operated in accordance with all legal compliance and this case now, when Moser Baer is in National Company Law Tribunal (NCLT), is motivated."

Meanwhile, CM Kamal Nath said: "I have no connection with the business they are doing. I am neither the shareholder, director or anything (in the Puri's business). To me, it appears to be a purely mala fide action. I have full faith that courts will take a corrective stand in this."
- Imran Alam

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