Agarwal is the chairman of Jagdamba Holdings under the Shankar Group, while Deepak Bhatt is the head of Infinity Holdings.
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The Money Laundering Investigation Department has raided the homes of Sulabh Agrawal and Deepak Bhatt, who were arrested in a money laundering case, and Himalaya Re-Insurance. Agrawal is the chairman of Jagdamba Holdings under the Shankar Group, while Deepak Bhatt is the head of Infinity Holdings.
He has been accused of being involved in suspicious activities ranging from obtaining large public procurement contracts, licenses of hydropower, banks/insurance companies and other companies by taking leaders, public office holders and employees into his hands and manipulating tax rates included in the annual budget.
Bhatt was arrested on Chaitra 19 and Agrawal on Chaitra 21. During the investigation into suspicious financial transactions between Infinity Holdings and Shankar Group, Shankar Agrawal was initially arrested , while Sulabh was arrested on the third day.
Deepak Bhatt-Sulabh Agarwal: Support during Corona period, disruption in share trading worth Rs 373 crore
