Leading industrialist A S Bindra, the father of Olympic gold medallist Abhinav Bindra, was arrested on Thursday from his house in Mohali, Punjab on charges of fraud and cheating.
The Economic Offences Wing (EOW) of the Delhi Police arrested the senior Bindra four days after a non-bailable warrant was issued against him.
He will be produced in a city court on Friday.
The EOW had registered two cases of cheating and forgery against Bindra in 2006 and 2007.
Police said they received complaints from a bank and a financing company that Bindra had cheated them of Rs 5 crore and 3.5 crore respectively.
“Once his role was ascertained, a city court issued a non-bailable warrant against Bindra,” said Rajan Bhagat, Delhi Police spokesman.
Apple Finance Company, in its complaint, said Bindra gave them a cheque of Rs 3.5 crore.
A year later IndusInd bank filed a similar complaint, that Bindra had cheated them of Rs 5 crore.
Police said the accused had not been attending court hearings and had been evading investigations.