New Delhi, Mar 29 (PTI) The Enforcement Directorate has arrested two people in connection with its probe in the ₹ 6,000 crore Bank of Baroda money laundering case.

Officials said businessmen, Manmohan Singh and Gagandeep Singh, were placed under arrest late yesterday under the provisions of the Prevention of Money Laundering Act (PMLA).

They said the two will be produced before a court today for further custody.

The businessmen have been accused of channeling an alleged ₹ 300 crore through the Ashok Vihar branch of the said bank here to foreign locations using suspected shell companies.

The case had emerged last year and is being probed both by the Enforcement Directorate and the CBI.

At least four people have been arrested by the ED in this case earlier.

The ED had earlier termed this case to be an alleged incident of trade-based money laundering, where accused traders evaded custom duties and taxes to generate slush funds.

The CBI had also arrested BoB AGM S K Garg and Jainish Dubey, who headed the foreign exchange division, under various provisions of the IPC and the Prevention of Corruption Act.

Money laundering probe under PMLA results in arrests and judicial production of businessmen for custodial proceedings. Action under the Prevention of Money Laundering Act led to arrests of two businessmen accused of channeling funds through a bank branch to foreign locations using suspected shell companies; they were to be produced for custody. The investigation is characterized as trade based money laundering, alleging customs duty and tax evasion to generate illicit funds, and runs alongside a parallel criminal and anti corruption inquiry that has resulted in prior arrests of bank officials.