Mumbai, December 8
Ashok Advani, publisher of the Business India group of magazines, was arrested by the Mumbai police for his alleged role in the bankruptcy of Jai Hind Co-operative Bank here.
According to police sources, Advani was called in for questioning earlier today and subsequently arrested.
He was arrested after Niranjan Hiranandani, a prominent Mumbai-based construction magnate, filed a complaint against him for allegedly embezzling funds from the bank.
Advani was a director at the bank and also headed the Hyderabad (Sind) National Collegiate Board, a trust that runs the well-known KC College in South Mumbai. —
TNS
