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Bank fraud case; CBI arrests Delhi-based firm’s director

The Central Bureau of Investigation (CBI) arrested a managing director of a New Delhi-based firm on Monday in connection with a Rs 512.67 crore bank fraud investigation.

Avinash Jain, the director of Arise India Limited, a company that produces electrical goods, has been identified as the accused.

In 2020, a case was filed against a private company based in Mangala Puri and others on allegations of causing banks to lose approximately Rs 512.67 crore.


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