"ED arrests Vijay Choudhary, director of Zoom Developers Pvt Ltd, under PMLA (Prevention of Money Laundering Act)," the agency tweeted.
Choudhary's name figures prominently on the wilful defaulters list, it said.
His company reportedly owes Rs 3,002 crore collectively to 26 state-owned banks.
In 2011, the Central Bureau of Investigation had suspected loan fraud by the company.
Later, ED registered a case and attached the company's properties, including those in California.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.
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