Ruia Group Chairman Pawan Kumar Ruia, who owns Falcon Tyres Private Limited, was taken into CID custody in connection with a complaint of theft lodged by the Railways on Sunday.
A complaint was lodged against Pawan Kumar Ruia by the Railways and has accused him of allegedly stealing railways equipment. He was arrested at his Delhi residence by a team of West Bengal CID officials and booked under section 420, 406 of IPC for cheating and punishment for criminal breach of trust. Ruia Group of companies owns maximum stake in Falcon Tyres and now with the arrest of its chairman, the group is yet to react. Pawan had ignored four summons of the CID since October in connection with the investigations.
It may be recalled that the management of Falcon Tyres has not paid salaries to its employees since two years. Recently, a staff of Falcon Tyres had to tried to commit suicide.