<p>The Serious Fraud Investigation Office (SFIO) has arrested a chartered accountant in Hyderabad in connection with his role during the demonetisation period.</p>.<p>In November 2016, old-series of Rs 500, and Rs 1,000 ceased to be legal tenders, after the government's demonetisation move aimed at curbing black money and corruption, among others.</p>.<p>On the basis of specific intelligence, SFIO officers in collaboration with the Commissioner of Police, Mumbai, arrested Nalin Prabhat Panchal, a chartered accountant by profession on September 13.</p>.Three persons arrested for posing as Crime Branch personnel to extort money in Navi Mumbai.<p>He was arrested for his failure to honour the summons issued in connection with the prosecution of Nityank Infrapower & Multiventures Private Limited, according to an official release on Monday.</p>.<p>The release issued by the corporate affairs ministry said SFIO officers conducted investigation into the affairs of the Nityank Infrapower & Multiventures for its role during the demonetisation period and launched prosecution against the company and individuals before a special court in Hyderabad.</p>.<p>"Despite issuance of summons, Panchal failed to appear before the special court at Hyderabad. The arrest was made pursuant to a non-bailable arrest warrant issued by the special court, Hyderabad, and he was produced before the special court at Hyderabad on 13.09.2023 and was remanded to judicial custody," the release said.</p>.<p>Specific details about the case were not disclosed.</p>.<p>SFIO comes under the corporate affairs ministry.</p>
<p>The Serious Fraud Investigation Office (SFIO) has arrested a chartered accountant in Hyderabad in connection with his role during the demonetisation period.</p>.<p>In November 2016, old-series of Rs 500, and Rs 1,000 ceased to be legal tenders, after the government's demonetisation move aimed at curbing black money and corruption, among others.</p>.<p>On the basis of specific intelligence, SFIO officers in collaboration with the Commissioner of Police, Mumbai, arrested Nalin Prabhat Panchal, a chartered accountant by profession on September 13.</p>.Three persons arrested for posing as Crime Branch personnel to extort money in Navi Mumbai.<p>He was arrested for his failure to honour the summons issued in connection with the prosecution of Nityank Infrapower & Multiventures Private Limited, according to an official release on Monday.</p>.<p>The release issued by the corporate affairs ministry said SFIO officers conducted investigation into the affairs of the Nityank Infrapower & Multiventures for its role during the demonetisation period and launched prosecution against the company and individuals before a special court in Hyderabad.</p>.<p>"Despite issuance of summons, Panchal failed to appear before the special court at Hyderabad. The arrest was made pursuant to a non-bailable arrest warrant issued by the special court, Hyderabad, and he was produced before the special court at Hyderabad on 13.09.2023 and was remanded to judicial custody," the release said.</p>.<p>Specific details about the case were not disclosed.</p>.<p>SFIO comes under the corporate affairs ministry.</p>