Kolkata-based industrialist Pawan Kumar Ruia, arrested by the cybercrime division of the West Bengal Police for a Rs 600 crore cyber fraud case, has been remanded to seven days of police custody by a district court. Ruia was taken into custody outside a hotel in New Town on the northern outskirts of Kolkata and presented before the Bidhannagar sub-divisional court. The public prosecutor requested police custody for further questioning during the hearing.
The next hearing in the case is set for April 9. Ruia’s counsel argued against the arrest, claiming that in today’s digital payment era, it can be challenging to track all transactions. The counsel highlighted the complexity of online payments and the difficulty in identifying the purpose of every transaction. However, the public prosecutor countered, emphasizing that Ruia is accused of money laundering involving hundreds of crores of rupees in a widespread financial fraud case.
Following the arguments, the court decided to keep Ruia in police custody for seven days. Ruia, known for his role as the founder-chairman of the Ruia Group and his history of acquiring various public and private sector entities, has been under scrutiny for his alleged involvement in the scam. The arrest stems from a case filed in 2024 at the Eco Park Police Station under Bidhannagar City Police, based on a complaint by Swapan Kumar Mandal. Investigators suspect that funds from online frauds nationwide were funneled into bank accounts associated with Ruia and his family members.
Ruia had previously faced legal issues in 2016 related to the theft of railway equipment from the Jessop factory, a company under the Ruia Group’s ownership. Following the closure of Jessop and Dunlop factories, the state government had taken steps to acquire them.
