New Delhi: Tough time lie ahead for Uttar Pradesh State Industrial Development Corporation (UPSIDC) Chief Engineer Arun Mishra, who was suspended and arrested under charges of money laundering as the investigative agencies are preparing to keep him behind bars for a longer period.

Three months after CBI arrested him, the Enforcement Directorate (ED) is ready to take custody of Arun Mishra, who allegedly amassed wealth to the tune of Rs 400 crore.

The engineer had chances to get bail on July 25 as no charge sheet has been filed in the case even three months after his arrest. In order to make sure that the accused stays behind bars, the ED has procured production warrant against Mishra and submitted it to Dehradun Jail administration.

Sources said the ED officials have got sufficient evidence to arrest Mishra under charges of money laundering.

Arun Mishra was arrested on April 25 for fraud against Punjab National Bank. He invested Rs 400 crore in 14 companies and three NGOs.  Sleuths have investigated all these companies and traced the money was parked in account of Asia College of Engineering and Management.

A senior official of ED said, "Very soon Mishra will be investigated after taking him into custody under charges of money laundering.”


Money will be seized by the ED soon after the investigation.

JPN/Bureau