New Delhi: Madhya Pradesh Chief Minister Kamal Nath on Tuesday said that the court will take a corrective stand in the money laundering case against his nephew and businessman Ratul Puri. Speaking to the reporters, the chief minister said, “I have no connection with the business they are doing. To me, it appears to be a purely mala fide action. I have full faith that courts will take a corrective stand in this.”

This statement comes in the wake of the arrest of businessman Ratul Puri by the Enforcement Directorate in view of a Rs 354 crore bank loan fraud case, the officials said on Tuesday. They added that Ratul Puri was placed under arrest as per the provisions of the Prevention of Money Laundering Act (PMLA) on Monday night. He will be produced before a court on Tuesday.

A report by Hindustan Times quoted the spokesperson for Ratul Puri as saying, “Arrest of Ratul Puri former ED Moser Baer reflects motivated behaviour of the agencies. The case filed against him while NCLT [National Company Law Tribunal] process has been completed reflects unconstitutional behavior. All necessary diligence was carried under Restructuring Professional (RP) post which NCLT proceeding were carried out.”

Meanwhile, on Tuesday, the Delhi High Court reserved the order on anticipatory bail plea of businessman Ratul Puri in the Agusta Westland money laundering case. Investigation in connection with the VVIP chopper scam is underway.

Earlier, a criminal case was filed against the businessman by the Central Bureau of Investigation (CBI) on August 18 in the bank loan fraud case. Multiple raids were conducted thereafter against Puri, his father and Moser Baer firm promoter Deepak Puri, mother Nita Puri, and others. Further, a PMLA case was snapped by the ED and arrested Ratul Puri, the officials said. He is already under probe scanner of the agency in the AgustaWestland VVIP choppers case.