Mumbai: Chief Executive Officer (CEO) of Home Trade Ltd Sanjay Agarwal was brought from Nagpur under tight security and produced in Mumbai on May 25 before a special court which remanded him to Central Bureau of Investigation (CBI) custody till May 31 to enable the investigating agency undergo further probe in the Rs 92.78 crore Seamen's Provident Fund scam.

Agarwal was brought by CBI sleuths by Sewagram Express and produced before sessions judge Kashalkar at his residence on May 25 evening.

A court in Nagpur had on May 24 remanded Agarwal to magisterial custody and allowed CBI to take over the investigations from state CID besides taking the accused to Mumbai for further probe.

CBI officers informed the judge that they were seeking Agarwal's custody to unearth where the scam money had gone.

They alleged that he had siphoned off money through his firms and hence needed to be interrogated to locate the missing funds, the court was told.

Agarwal is also facing criminal charges under section 406, 409, 468 and 34 of IPC in the alleged Rs 150 crore government securities scam.

He surrendered in Nagpur on May 11 and was later taken to Mumbai by state CID for investigation. During his first visit to Mumbai in custody it was revealed during investigation that Agarwal has 97 bank accounts and had invested some money abroad.

PTI