Bengal police arrest Pawan Ruia in Rs 315 crore cyber fraud case tied to shell firms
Telegraph | 1 April 2026
Industrialist Pawan Ruia, known as the “turnaround tycoon” was arrested by the Bengal Police’s cybercrime wing on Tuesday evening from a location near Eco park.
The Bengal police’s cybercrime wing was investigating Ruia after having uncovered a cybercrime network where at least Rs. 315 crore had been swindled to 148 shell companies which were traced back to the industrialist among other people.
In November last year, the cybercrime wing had raided the residence and offices of Ruia in connection with a complaint from April 2024. Probing the case the cybercrime wing sleuths had traced 1,379 complainants in Bengal and other parts of the country who were allegedly swindled.
A 100 of these complaints were from Bengal.
Investigation revealed around Rs. 170 crore was allegedly converted into cryptocurrency to avoid detection.
The raids were carried out at the Ruia Centre at 46, Syed Amir Ali avenue, the office of Dunlop Industrial Products Pvt Ltd at Berger House 129, Park Street and the Ruia residence in Ballygunge after the Barrackpore cybercrime wing filed a suo motu complaint on November 5, 2025.
The FIR filed by the Barrackpore cybercrime wing had mentioned 11 directors in companies linked to Ruia were also part of the boards of 186 companies.
On December 22, a lower court had issued an arrest warrant against Ruia and some other people, including family members.
Justice Uday Kumar of the Calcutta High Court granted anticipatory bail to Ruia, his son Raghav and daughter, Pallavi.
The prosecution had argued that the extent of the fraud could be around Rs. 700 crore-Rs 800 crore.
The high court granted anticipatory bail with the condition that the Ruias submit their passports to the lower court.