Bank fraud case: Textile baron Neeraj Saluja sent to 5-day police remand

Neeraj Saluja had been arrested at the ED’s Jalandhar office on Thursday when he had gone to tender a statement after being summoned.

The Enforcement Directorate (ED) on Friday produced Ludhiana-based textile baron Neeraj Saluja before a special ED court in Mohali, from where he was sent to a five-day police remand, in the alleged bank fraud case of ₹1530 crore.

Neeraj Saluja, the former director of SEL Textiles Limited, and others are accused of diverting loan amount for purposes other than what it was sanctioned for. (HT File)

Neeraj Saluja, the former director of SEL Textiles Limited, and others are accused of diverting loan amount for purposes other than what it was sanctioned for.

Saluja had been arrested at the ED’s Jalandhar office on Thursday when he had gone to tender a statement after being summoned.

On January 12, the ED had conducted searches at his premises in Ludhiana and Jalandhar and seized ₹60 lakh cash and various incriminating evidence.