Sulav remanded, Shankar released after statement
Summary
Sulav Agrawal, vice-chairman of Shankar Group, has been remanded for five days over money laundering allegations following the arrest of his father, Shankar Agrawal. The Department of Money Laundering Investigation is probing transactions involving Jagdamba Steel and others.
Key Points
- Sulav Agrawal, vice-chairman of Shankar Group, has been remanded for five days on money laundering charges.
- Shankar Agrawal, chairman of Shankar Group, was arrested and later released after his statement.
- Department of Money Laundering Investigation is looking into suspicious transactions involving Jagdamba Steel and Deepak Bhatt.
- The Shankar Group is a large Nepalese conglomerate with diversified business interests worth over $1 billion and employing more than 15,000 people.
