Motilal Oswal
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Motilal Oswal
Economy

IL&FS CEO Ramesh Bawa arrested on charges of fraud

Updated : April 13, 2019 03:42 PM IST

The former top executive has been held under Section 447 of the Companies Act that enables SFIO to arrest a person for committing fraud. 
The apex court had earlier this week dismissed Bawa's petition, which sought to stop the SFIO's criminal proceedings against him.
SFIO had arrested Hari Sankaran, former IL&FS chairman, following which Bawa filed an anticipatory bail plea. 
IL&FS CEO Ramesh Bawa arrested on charges of fraud
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