Ahmedabad, Mar 27 (PTI) The CBI on Sunday said it has arrested a Gujarat-based shipping company's official, who was absconding "for a long time", for his alleged involvement in defrauding Canara Bank of Rs 20.68 crore.

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The accused, Sanjay Gupta, a director of the firm, was arrested on his arrival from Nairobi in Kenya. He is one of the eight persons named in the case registered on June 27, 2012 based on a complaint lodged by Canara Bank at Ahmedabad, the Central Bureau of Investigation (CBI) said in a release.

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The FIR was lodged against the Gujarat-based Nova Shipping and others, including its directors, proprietor, bank officials, among others, for cheating the Jamnagar branch of Canara Bank to the tune of Rs 20.68 crore, it said.

"After investigation, a charge sheet was filed in the special CBI court at Mirzapur in Ahmedabad on December 24, 2013 against the eight accused," the release said.

Gupta was absconding for a long time, and a Look Out Circular (LOC) and a red corner notice were issued against him, the central agency said, adding that he will be produced before a competent court in Ahmedabad.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)