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Rediff News  All News  » Business » Industrialist Srivastava gets PCR till May 21

Industrialist Srivastava gets PCR till May 21

May 14, 2005 15:37 IST

Industrialist and art dealer Guru Swarup Srivastava was today remanded to police custody till May 21 by a local court for allegedly forging documents.

Chairman and Managing Director of Swarup Group of Industries, Shrivastava, who is famous for his Rs 101 crore-deal with eminent painter M F Hussain, was arrested on Friday by the Economic Offences Wing of the Mumbai police on a complaint filed by two city-based chartered accountants.

The duo had accused him of forging balance sheet and profit and loss statements in order to obtain loan and open an account with a private bank.

Shrivastava came into prominence after he signed the contract with Hussain last year.

EOW arrested G L Iyer, financial controller of the group, on May 10 in this connection.
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