Sunil Kakkad, CMD of Ahmedabad-based Sai Info Systems (SIS) who has been absconding after duping banks and employees in a Rs 2,000-crore scam case, has been arrested by the local police in Liberia with the help of Interpol.
According to Pramod Kumar, ADGP (CID & Crime), the Ahmedabad police had been on Kakkad's lookout after a case was registered in the Vastrapur police station in 2013. "While we do not have any extradition treaty with Liberia, relevant documents have been sent. In few days we will arrange to bring him back to Ahmedabad," Kumar said.
Kakkad had allegedly duped banks and employees before absconding in June last year. Around 1,400 employees had not received salaries for almost nine months. Kakkad had also defaulted in loan payments worth over Rs 700 crore that were due with a consortium of banks that included SBI, Bank of Baroda, Allahabad Bank and Vijaya Bank.
