The CBI on Wednesday arrested the CMD of a mining company from Orissa on the charge of defrauding central cooperative body Nafed of about Rs 67 crore, official sources said.
Earlier on Tuesday, Homi Rajvansh, IT Commissioner of Agra was arrested on charge of defrauding Nafed.
A team of CBI sleuths from Delhi accompanied by local police arrested Zenith Mining Pvt Ltd CMD Syed Nizam Ahemad from a place on the outskirts of Bhuveneshwar.
Nizam, whose car and a revolver were seized, was produced before the CBI court which allowed the agency to take him to Delhi on three-day transit remand.
The businessman was accused of defrauding National Agricultural Cooperative Marketing Federation of India (Nafed) of Rs 67 crore after taking a loan of Rs 90.22 crore.
Though Nizam repaid Rs 30.47 crore, he did not repay the rest of the amount and interest, said CBI DSP P Singh who led the team.
Nafed had lodged a complaint with CBI’s Economic Offence Wing against him last year.
Nizam’s firm which operated a small iron ore mines in Sundergarh district, had taken loan from the Nafed for undertaking iron ore export.
