The ED arrested only Krishna Kumar, the CMD of Shakti Bhog

(PTI) New delhi date. 5

The ED has arrested only Krishna Kumar, chairman and managing director (CMD) of Delhi-based Shakti Bhog Foods Limited, in a multi-crore bank loan fraud case.

The ED said in a statement that after Kumar's arrest, he was produced before the Special Prevention of Money Laundering Act (PMLA) court. The court has remanded him in ED custody till July 4.

Prior to the arrest, the ED had raided a total of six complexes in Delhi and Haryana. Several different offensive documents were found during the raid. The ED has filed a case under the criminal section of the PMLA Act. The CBI had earlier this year registered an FIR against Shakti Bhog Foods Limited.

The CBI had filed a case with Shakti Bhog Foods Ltd for allegedly defrauding a group of 10 banks led by State Bank of India of Rs 3 crore.

The case was filed by the CBI after SBI lodged a complaint. According to SBI's complaint, the company obtained the loan by submitting fake documents and then the company could not repay the loan. So that the loan he took out became NPA.