NEW DELHI: Continuing its operation against alleged fraudulent corporate resolutions of bankrupt companies and money laundering activities during insolvency proceedings at National Company Law Tribunal (NCLT), ED on Thursday arrested Arvind Kumar, a former resolution professional (RP) of Richa Industries Ltd.Kumar, who was the company’s RP between 2018 and 2025, is the first ever RP to be arrested by an enforcement agency on charges of collusion with promoters of a bankrupt company, siphoning off assets of a company under insolvency, and laundering proceeds of crime. A court has remanded him in eight days of ED custody.In Jan, ED had arrested the company’s former promoter Sandeep Gupta. The agency had then claimed Gupta had not only…
Insolvency Guardian
Insolvency Services & Bankruptcy Advice
