The Enforcement Directorate has arrested R Subramanian, Promoter & Managing Director of the Subhiksha Retail chain of stores. Subramanian was arrested under the Prevention of Money Laundering Act in a bank fraud case, the Enforcement Directorate tweeted on Wednesday. The retail chain, which was launched in 1997, had shut shop in 2009. The directorate also attached property worth ₹3.26 crore, belonging to Manoj Jayaswal and Abhishek Jayaswal, erstwhile directors of JLD Yavatmal Energy Ltd, Nagpur, in a coal block case, under the Prevention of Money Laundering Act.
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