Zoom Developers chief arrested in ₹2,600 cr loan fraud case
Enforcement Directorate officials have arrested Vijay Madanlal Choudhary, director of Zoom Developers, in connection with its money laundering probe in a bank loan fraud case involving ₹2,600 crore. The Mumbai-based firm and its controllers were accused of cheating 25 banks. Choudhary, who allegedly floated 485 firms in his or his associates’ names, has been accused of “masterminding” the case.