CBI arrests businessman wanted for 2012 bank fraud upon arrival from Nairobi

The case was registered in June 2012 on a complaint from Canara Bank, Circle Office, Ahmedabad against Nova Shipping and its directors, proprietor on the allegations that the company cheated the bank of ₹20.68 crore.

The Central Bureau of Investigation (CBI) has arrested Sanjay Radhelal Gupta, a businessman from Gujarat, wanted in a bank fraud case from 2012, upon his arrival from Nairobi, the probe agency said on Sunday.

The CBI has arrested Sanjay Radhelal Gupta, a businessman from Gujarat, wanted in a bank fraud case from 2012, upon his arrival from Nairobi. (HT PHOTO.)

An Interpol red notice and a look out circular (LoC) issued by the agency was pending against Gupta, director of Nova Shipping Pvt Ltd, who was absconding for the past 10 years.

The case was registered in June 2012 on a complaint from Canara Bank, Circle Office, Ahmedabad against Nova Shipping and its directors, proprietor on the allegations that the company cheated the bank of ₹20.68 crore.

CBI spokesperson R C Joshi said that after investigation, a charge sheet was filed in the Court of Special Judge, Mirzapur, Ahmedabad in April against 8 accused including Gupta.

“The said accused was absconding since long. An LOC and a Red Notice was also issued against him. He will be produced before the Competent Court at Ahmedabad,” Joshi said.