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CBI moves FBI, UK cops to arrest Rastogis

The Central Bureau of Investigation has moved an application to the Federal Bureau of Investigations in the US and Scotland Yard of UK for provisional arrest of Narender Rastogi and Virender Rastogi, in the cases pertaining to receipt of more than Rs 1 billion as duty drawback in India.

The move comes close on the heels of arrest of Narender Rastogi and three others by the FBI for allegedly defrauding banks worldwide of an estimated $600 million by obtaining financing for sham transactions and then pledging them as collateral for loans.

The CBI application sought FBI's assistance in placing Narender under provisional arrest pending initiation of a move to either seek his deportation or extradition to New Delhi to stand a trial.

CBI has been looking for Narender Rastogi and his brothers and influential businessmen Virender Rastogi and Ravinder Rastogi in connection with the fraudulent duty drawback from the export of scrap material.

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