Three promoters of Diamond Power held

The Central Bureau of Investigation arrested three promoter-directors of Vadodara-based Diamond Power Infrastructure Ltd (DPIL) in connection with ₹2,654.4 crore loan fraud case.

In a joint operation, the CBI and Gujarat’s Anti Terrorist Squad arrested Suresh Bhatnagar and his two sons Amit and Sumit from a hotel in Udaipur, Rajasthan.

On March 26, the CBI filed a case against DPIL and its directors for defrauding the consortium of 11 banks of ₹2,654.40 crore.

A key accused in the fraud case, Amit Bhatnagar is known for his proximity to a powerful cabinet minister in Gujarat, Saurabh Patel. After the CBI FIR, the Congress spokesman Pawan Khera released several picture of Mr. Bhatnagar with top BJP leaders, including PM Narendra Modi, Union Minister Piyush Goyal.