ED has arrested the erstwhile Managing Director of the Industrial Co-operative Bank Limited, Subhra Jyoti Bharali, under the Prevention of Money Laundering Act, 2002.
ED had launched an investigation against Bharali and seven others in connection with a case
registered at the Panbazar Police Station on September 15, 2021, over alleged financial misappropriation and forgery involving the bank’s funds.
The case was registered based on a complaint lodged by one Bhadreswar Burman, president of the Nagarik Suraksha Mancha, Assam.
