ED arrests Kotak Mahindra Bank manager

New Delhi, Dec 28 The Enforcement Directorate on Wednesday morning arrested a manager of the Kotak Mahindra Bank for his alleged links with hawala trader Parasmal Lodha and Delhi-based lawyer Rohit Tandon.

Sources in the ED said that the branch manager, Aakash, was arrested for allegedly converting over Rs 25 crore in demonetised notes linked to industrialist J. Sekhar Reddy and lawyer Rohit Tandon.

On December 23, the Income Tax department also carried out raids at the bank branch here.

Akash, a resident of Haryana, would be produced in a Delhi court on Wednesday afternoon.

Lodha, a leading businessman with interests in real estate and mining, was intercepted at the Mumbai airport while he was trying to flee to Malaysia.