Debt-ridden businessman arrested

A businessman who allegedly owed nearly Rs 5 crore to several traders, was arrested here after having gone "underground" about three weeks ago, police said today.
The accused, P D Mittal was arrested yesterday here by Anantpura police and will be produced before the court today.
About 127 traders of Kota Bhamasha Mandi had lodged an FIR against Mittal on July 15. Meanwhile, another FIR was lodged by other traders of the Mandi through court order, police said.
The complainants have alleged that the accused had "gone missing with his family" since July 11, without making the payment of Rs 4.93 crore, due to them, Station House Officer (SHO), Anantpura police station, Amar Singh Rathore, said.

A case was lodged against Mittal under section 420 and 406 of IPC on July 15 and police teams were sent to various cities, in and out of the state, to search for him. He was finally arrested from his friend's house in R K Puram area of the city, Singh said.
Singh also said Mittal, during the initial interrogation had admitted to being under heavy debts of Rs 35 crore from banks, 'mandi' traders and other money-lenders.
When he found himself unable to pay back the loans, he left the city and switched off his mobile phone, police said.