Law enforcement authorities in India have arrested Proshanta Kumar Halder, who is wanted in Bangladesh in connection with scams worth billions of takas, according to information from the Anti-Corruption Commission.

Khurshid Alam, the chief counsel of ACC, said, “We've come to know that the Enforcement Directorate arrested PK Halder in West Bengal.”

A diplomatic source in India confirmed that India’s intelligence agency picked Halder up on Saturday. His home was raided on Friday.

On how authorities plan to bring PK Halder back to Bangladesh, Alam said, “He will be shown arrested under the specific law he was arrested there or he will be handed over to Bangladesh under the mutual deal or extradition treaty with India.” The mutual treaty was used to ask India for information on Halder.

“[PK Halder] will be produced in court when he is handed over to Bangladesh. ACC will then petition to remand him. ACC will follow the court orders,” Alam said, adding that Halder faces arrest warrants in 36 cases on charges of money laundering.

“The [Indian] law enforcers swiftly took him in, and that is special good news for us as processes left hanging for investigation will gain speed with the opportunity to question him.”

The Enforcement Directorate of India conducted raids on 10 properties linked to Proshanta, Pritish Kumar Halder, Pranesh Kumar Halder and Sukumar Mridha throughout Friday, according to media reports.

Halder is a former managing director of the International Leasing and Financial Services Limited or ILFSL and NRB Global Bank. He is accused of embezzling funds and purchasing large shares while taking control of four financial institutions, in which he placed his close associates in positions of power.

The ACC has so far prosecuted PK Halder and a number of his associates in at least 34 cases on charges of embezzlement of billions of takas and money laundering.

The investigators have charged them in court in one of the cases and three more charge sheets are awaiting the ACC’s approval.

As many as 13 of the accused have been arrested and grilled in custody while 11 of them have given statements confessing to their parts of the crimes. Court has slapped an overseas travel ban on 64 people in connection with the cases.

It also ordered a freeze on bank accounts of 83 associates of PK Halder and their immovable assets worth around Tk 10 billion.