ANI
13 Jun 2019, 14:25 GMT+10
New Delhi [India], Jun 13 (ANI): The Economic Offences Wing of Delhi Police has arrested Wave Group Vice Chairman Manpreet Singh Chadha, son of late liquor baron Ponty Chadha, for allegedly cheating investors to the tune of over Rs 100 crore.
He was taken into custody on Wednesday night from the Indira Gandhi International (IGI) Airport when he was leaving for Phuket in Thailand.
The FIR has alleged that the company had defrauded investors of more than Rs 100 crore.
According to the police, a Lookout Circular (LOC) was issued against him earlier this year in connection with the cheating case.
The case against Manpreet and other promoters of the Wave Group was registered in 2018.
He will be produced before a magistrate today, police said.
Ponty Chadha was killed by his brother Hardeep in 2012, following which Manpreet has been managing the liquor and real estate businesses. (ANI)Get a daily dose of Oakland Times news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Oakland Times.
More InformationREDMOND, Washington: Artificial intelligence is transforming Microsoft's bottom line. The company saved over US$500 million last year...
ATLANTA, Georgia: The United States is facing its worst measles outbreak in more than three decades, with 1,288 confirmed cases so...
WASHINGTON, D.C.: A federal rule designed to make it easier for Americans to cancel subscriptions has been blocked by a U.S. appeals...
NEW YORK CITY, New York: Former British prime minister Rishi Sunak will return to Goldman Sachs in an advisory role, the Wall Street...
WASHINGTON, D.C.: Travelers at U.S. airports will no longer need to remove their shoes during security screenings, Department of Homeland...
LONDON, U.K.: Physically backed gold exchange-traded funds recorded their most significant semi-annual inflow since the first half...
ATLANTA, Georgia: The United States is facing its worst measles outbreak in more than three decades, with 1,288 confirmed cases so...
In the past month alone, 23 Israeli soldiers have been killed in Gaza—three more than the number of remaining living hostages held...
LONDON, U.K.: At least 13 people are believed to have taken their own lives as a result of the U.K.'s Post Office scandal, in which...
WASHINGTON, D.C.: Travelers at U.S. airports will no longer need to remove their shoes during security screenings, Department of Homeland...
WASHINGTON, D.C.: An elaborate impersonation scheme involving artificial intelligence targeted senior U.S. and foreign officials in...
SLUBICE, Poland: Poland reinstated border controls with Germany and Lithuania on July 7, following Germany's earlier reintroduction...