KKN group MD arrested in Kolkata for cheating, forgery
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Kolkata Police today arrested Kaushik Kumar Nath, managing director of the Rs 500-crore KKN group that deals in agro-products and steel, on various charges including forgery and cheating.
Arrested in front of South City Mall under Jadavpur police station, Nath will be produced in court tomorrow where a team of Assam police will seek his custody and take him to Assam.
Several cases of cheques signed by Nath have been dishonoured by banks, police said. "Many cases of cheques issued by him that have bounced were registered at Kamrup police station in Assam. On the basis of that, a court at Guwahati issued arrest warrants against him. We got a tip-off from our sources that he was hiding in his house here. But Nath was not in the house, so we laid a trap and finally got him in front of South City Mall," Debasish Chakrabarty, inspector in charge of Jadavpur police station, told The Indian Express.
According to the police, a case was lodged against Nath in Kolkata as well. The case, regarding issuing a cheque for Rs 16 lakh to a diamond jewellery shop owner that bounced, was lodged at Shakespeare Sarani police station.
Nath, a former naval officer, acquired the company in 2000 and diversified into 10 firms dealing in agro-products. The company, headquartered in Kolkata, has offices at Agartala, Guwahati, Bhubaneswar, Siliguri, Ranchi, Muzaffarnagar and Patna. KKN Group has a presence in edible oils through the Tripti and Sunshine brands. It has diversified into the steel sector, having acquired Balaji Ispat, a producer of mild steel ingots, in 2010.