Kolkata businessman arrested by ED for converting old currency into new

Kolkata businessman Parsamal Lodha arrested by ED for converting over Rs 25 crore old currency into new.

Kolkata, Dec 22: A city-based businessman Parasmal Lodha was arrested by Enforcement Directorate for converting over Rs 25 crore old currency into new notes associated with another businessman J. Sekhar Reddy and lawyer Rohit Tandon on Thursday.

The Central Bureau of Investigation (CBI) on Wednesday arrested former Tirumala Tirupathi Devasthanams (TTD) Board Member and industrialist J. Sekhar Reddy and his associate K. Srinivasulu in connection with the seizure of 127 kg of gold and over Rs 170 crore in cash post demonetisation.

Recently, Parasmal Lodha's daughter Pallavi was married to Dr JK Jain's son Rahul in Delhi which was attended by top bureaucrats, politicians and many Bolloywood celebreties.

Earlier today, Enforcement Directorate officials had carried out raids at state cooperative bank of Kannur, Kozhikode and Thrissur and CBI in Kollam and Malappuram.

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