Overview
- The ED arrested Archana Kute on March 2 under the PMLA and she was remanded on March 3 to agency custody until March 7.
- A special PMLA court denied her anticipatory bail, with Judge R. B. Rote citing complex financial transactions and an alleged deep-rooted conspiracy that required custodial interrogation.
- The court noted allegations of non-cooperation and the alienation of an attached property when rejecting her plea.
- Investigators allege funds were diverted as undocumented loans to Kute Group firms and siphoned for personal gains or unrelated ventures, totaling about Rs 2,467 crore.
- The probe references harm to more than 400,000 depositors, outstanding loans of Rs 3,558.22 crore tied to Kute-linked entities, and provisional attachment of assets worth about Rs 1,621.89 crore, with an earlier arrest of Suresh Kute and a charge sheet already filed.