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Vinay Aranha of the Pune-based Rosary Education Group was in custody of Enforcement Directorate, which is also probing his alleged involvement in Rs 429-crore money laundering scam.
The investigation by the CID pertains to multiple offences registered in Pune, Jalgaon and Osmanabad districts of Maharashtra in 2015 and 2016 against the companies of the Samruddha Jeevan Group.
The state additional director general of police (crime investigation department) Mr Ritesh Kumar has been posted as the Pune police commissioner