The Enforcement Directorate (ED) on Wednesday arrested R. Subramanian, the promoter of retail chain Subhiksha, in an alleged bank fraud case, an official said.
A case has been filed against the accused under the Prevention of Money Laundering Act.
Subhiksha Trading Services Ltd operated grocery and drug retail outlets. Founded in 1997, the chain shut down in 2009.
--IANS
vj/tsb/bg
Disclaimer: No Business Standard Journalist was involved in creation of this content
