Hyderabad: ED arrests Vuppalapati Satish in bank fraud case

The Enforcement Directorate (ED) on Thursday arrested Vuppalapati Satish, managing director of Pruthvi Information Solutions for allegedly cheating the banks by obtaining a loan amount of Rs 3,316 crore.

The ED took Satish into custody after approaching the court on the allegations that he cheated several banks and obtained Rs 3,316 crore loan.

On August 6, the ED arrested Satish's sister Vuppalapati Hima Bindu, managing director of VMC Systems Limted in Rs 1,700 crore Punjab National Bank (PNB). Hima Bindu and two others directors detained under Prevention of Money Laundering Act.