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The Times of India

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Hyderabad: ED arrests director of PCH Limited for Rs 370 crore loan fraud

ED Hyderabad PCH Enforcement Directorate

HYDERABAD: Enforcement Directorate, Hyderabad, on Thursday arrested top electronics company PCH Corporation Limited promoter and director Balvinder Singh in a case relating to defrauding banks to the tune of Rs 370 crore.

Singh was arrested on Tuesday and produced before the PMLA special court on Wednesday. He was remanded in judicial custody till February 23. Singh, who is also director of several PCH group companies, was arrested under the Prevention of Money Laundering Act (PMLA).

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