The Enforcement Directorate has arrested Vijay Madanlal Choudhary, director of Zoom Developers, in connection with a money laundering case, the agency said on Wednesday.
“ED arrests Vijay Choudhary, director of Zoom Developers Pvt Ltd, under PMLA (Prevention of Money Laundering Act),” the agency tweeted.
Vijay Choudhary’s name figures prominently on the wilful defaulters list.
ED arrests owner of Zoom Developers Vijay Choudhary under PMLA, for involvement in a scam of forgery with a bank, with amount up to ₹2650 cr
— ANI (@ANI_news) May 3, 2017
His company reportedly owes Rs 3,002 crore collectively to 26 state-owned banks.
In 2011, the Central Bureau of Investigation had suspected loan fraud by the company.
Later, ED registered a case and attached the company’s properties, including those in California.