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Adarsh Credit Coop Society accused gets extended SFIO custody

Updated: Fri, Dec 14, 2018
09:40 pm
PTI
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A Gurugram court Friday extended the custody of the three accused in the over Rs 230-crore Adarsh Credit Cooperative Society scam till December 18.

The Gurugram district and sessions remanded Mukesh Modi, Rahul Modi and Vivek Harivyasi of the Adarsh group to the SFIO custody, official sources said.

The three were arrested on December 10 by the SFIO after being accused of siphoning off over Rs 230 crore from 22 companies registered in Gurgaon and other entities, and the amount can be higher as well.

There is a likelihood that the actual amount of money siphoned off will be much larger, the sources said.

The three are directly or indirectly, controlling these companies from where the money has been siphoned off.

Mukesh Modi is the founder of the society, while Rahul Modi is the managing director and chief executive of the society, and Harivyasi was the promoter-director-signatory of most of the 22 companies.

 

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)