The Enforcement Directorate (ED) has arrested Prateek Kanakia, CEO of The Green Billions Limited, for alleged money laundering involving Rs 47-50 crore. The ED claims Kanakia misappropriated loans intended for a Pune waste management project, using funds for a lavish lifestyle and luxury assets. The probe is based on a CBI case, which alleges a conspiracy involving former BECIL officials and a bribe transaction. Kanakia's lawyers deny the allegations, and he has been remanded to ED custody.