Multi-crore fortune at locker: ED takes businessman into custody, intensifies investigation
Bengaluru, July 22: The Enforcement Directorate (ED) took businessman Avinash Amarlal into its custody in related to the multi-crore assets found in a locker of the Bowring Institute in Bengaluru.
The ED took him from a house at Sampangiram Nagar and interrogated him about the property documents, and cash. Apart from this, the IT officials also collected information about his bank accounts and businesses, it is said.
The IT officials who interrogated Avinash might book cases against him on disproportionate asset case. The ED officials also got information about the cash, jewelry and property documents from the IT officials. Sources also said that the IT officials have decided to verify the documents in other clubs where Avinash was a member. He has got membership in prestigious clubs in the city, it is said.
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Essar Group co-founder Shashi Ruia dies at 80
New Delhi (PTI): Essar Group co-founder Shashi Ruia has died after a prolonged illness. He was 80.
Ruia, who co-founded metals-to-technology conglomerate Essar with his brother Ravi, died in Mumbai around 23.55 hrs on November 25, family sources said.
He had returned from the US, where he was undergoing treatment, about a month back.
His mortal remains will be kept at Ruia House from 1 pm to 3 pm on Tuesday. The funeral procession will leave from Ruia House at 4 pm towards the Hindu Worli Crematorium.
Shashi, a first-generation entrepreneur industrialist, started his career in 1965 under the guidance of his father Nand Kishore Ruia.
He, along with his brother Ravi, laid the foundation of Essar in 1969 by constructing an outer breakwater at Chennai Port. The group expanded into various sectors, including steel, oil refining, exploration and production, telecom, power, and construction.
He is survived by his wife Manju and two sons Prashant and Anshuman.
