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Two directors of an Ahmedabad-based company have been arrested for fraudulently securing a loan worth Rs 64 crore. They have been charged with breach of trust, forgery, and fabricating documents by forging the signatures of a man from Rajkot, officials confirmed.
The arrests were carried out by the Economic Offences Wing (EOW) of the Ahmedabad City Police’s Detection of Crime Branch (DCB) between Tuesday and Wednesday.
Jay Harshadkumar Chotalia, a resident of Thaltej, Ahmedabad, was taken into custody at 7:15 a.m. on Tuesday. He was subsequently remanded to police custody. Mitesh Kiritkumar Sanghvi, a resident of Jamnagar, was also arrested on January 8 in connection with the same case.
