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BW Businessworld

Ravi Parthasarathy Arrested By Chennai Police

The accused Parthasarathy is the former Chairman and Managing Director of the entire IL&FS Group.

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Ravi Parthasarathy, the founder, former chairman, and former CEO of Infrastructure Leasing and Financial Services (IL&FS), has been arrested. Economic Offenses Wing of Chennai Police has arrested him. This scam came to the fore in the year 2018, which was worth Rs 1 lakh crore. 

Issuing a statement, Chennai EOW has said – Ravi Parthasarathy, the kingpin and mastermind of the 1 lakh crore IL&FS scam, has been arrested by the Arrest EOW in the case of crime number 13/2020, dated 20.09.2020. 

Ravi Parthasarathy had carried out this entire financial scam through IL&FS. Not one or two but entire 350 companies were included in this group. All these companies were used by Ravi as a mask to commit fraud. Ravi had filed an anticipatory bail in the Madras High Court to prevent his arrest, which was rejected. Now it is believed that after the arrest of Ravi, the layers of this scam will open even more. 

The arrest of former IL&FS chairman Ravi Parthasarthy was made on the complaint of 63 Moon Technologies. According to reports, 200 crore rupees have also been drowned in this scam of 63 Moon Technology. After which, Ravi was arrested on the complaint of the company. Apart from 63 Moon Technology, there are many companies in this scam, whose huge amount has been sunk. Many other companies have also filed cases against Ravi.