Film producer Shrikant Mohta was picked up from his Kasba office.

Shrikant Mohta, head of one of the biggest film production companies in eastern India, has been arrested in Kolkata today for allegedly defrauding ponzi chit fund company Rose Valley. Known to be close to members of the ruling Trinamool Congress in West Bengal, he is often seen in their company.

Shrikant Mohta was detained from his office in south Kolkata's Kasba this afternoon amid much drama. When the CBI arrived at his office, he reportedly called up the local police station and complained that some hooligans were creating a disturbance outside his office. The police rushed in, but retreated upon realising that it was a full-fledged CBI operation.

According to sources, Shrikant Mohta had ignored several summons by the CBI. Today, the CBI visited his home to question him. As he was not there, two carloads of CBI officers went to his office at Kasba and detained him.

Shrikant Mohta was brought to the CBI office at Salt Lake and then arrested.

CBI sources said the film producer had taken Rs 25 crore from Gautam Kundu, head of chit-fund company Rose Valley, who is currently in jail. Shrikant Mohta was to produce several films for the Rose Valley group with that money. He did not deliver, and when Mr Kundu asked him for his money, Shrikant Mohta allegedly warned him off -- dropping several powerful names along the way.

Shrikant Mohta's company -- Shree Venkatesh Films -- has produced many award-winning films, including "Chokher Bali", "Raincoat", "Memories In March", "Autograph", "Iti Mrinalini", "Baishey Srabon" and "Hemlock Society". Some of the country's top actors and directors have worked with Shrikant Mohta's company.