Meet Parasmal Lodha, a small-time realtor who became Kolkata's go-to man

Parasmal Lodha's ability to befriend rich and powerful led to his rise to power and now his arrest

A fortnight ago, the Enforcement Directorate nabbed Kolkata-based businessman Parasmal Lodha for allegedly converting over Rs 25 crore in banned currency into new notes. 

Lodha, apparently, was facilitating conversion of old high value currency into new currency for J Sekhar Reddy, the Tamil Nadu-based sand mining baron from whose house tax officials recovered Rs 100 crore, and Rohit Tandon, the owner of Delhi-based law firm T&T, who reportedly never deposited cash in banks and from whose house crores were recovered by the Crime Branch of the Delhi Police. 

As it appears, Tandon and Lodha were converting the stash of cash