ED arrests Parasmal Lodha for converting Rs 25 crore to new notes

ED arrests Parasmal Lodha for converting Rs 25 crore to new notes

Kolkata ,Dec22:Kolkata businessman Parasmal Lodha was arrested by the Enforcement Directorate for allegedly converting over Rs 25 crore in demonetised currency notes into new ones, .According to the media report, Lodha has links with industrialist J Shekhar Reddy, who was arrested along with his associate K Srinivasulu on Wednesday.

Reddy and Srinvasulu’s arrests were also in the context of illegally exchanging old notes for new ones and going against RBI guidelines.

News18 also points out that Lodha had earlier been detained from Mumbai’s Chhatrapati Shivaji International Airport after it was discovered that the sum of Rs 13 crore seized from the office of lawyer Rohit Tandon in Delhi’s Greater Kailash area, belonged to Lodha.

He is not believed to be related in any way to builder and BJP leader Mangal Prabhat Lodha.

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