Industrialist nabbed

Indore, Dec 29 (UNI) Customs and Central Excise sleuths today arrested the Dewas-based Prabhat Chemicals' partner M K Jain for defaulting on Rs 1.5 crore that was due to the department.

''Mr Jain was produced before a magistrate and who remanded him to judicial custody until January 12, 2007,'' an official release said here.

Departmental action also unearthed irregularities vis-a-vis Central Value Added Tax.

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