ED arrests Kolkata businessman Parasmal Lodha for illegal conversion of demonetised currency

The Enforcement Directorate arrested businessman Parasmal Lodha for allegedly converting scrapped currency worth Rs 25 crore into new notes associated with another businessman Sekhar Reddy and lawyer Rohit Tandon.        

Lodha was earlier detained by the ED sleuths at the Mumbai airport after it came to light that the 13 crore retrieved from the office of lawyer Rohit Tandon belonged to him. Lodha has been brought to Delhi for further questioning.

Lodha's daughter was recently married in a lavish wedding ceremony in Delhi which was attended by top bureaucrats, politicians and many Bolloywood actors.

(With inputs from PTI)