New Delhi, Jul 30 (IANS): The Economic Offences Wing (EOW) of Delhi Police has arrested two officials of Amrapali Group for creating a large number of bogus companies, the police said on Tuesday.

The arrested persons have been identified as Chander Prakash Wadhwa, chief financial officer (CFO) and Anil Mittal, statutory auditor of the Amrapali group of companies. Both were arrested from Delhi on Monday.

They were wanted in a case of cheating, criminal breach of trust and criminal conspiracy.

The accused were instrumental in creating a large number of bogus companies for diversion of funds of home buyers by employing persons known to them as directors or appointing them in key management posts in those companies.

On Tuesday, both were presented in Karkardooma courts that sent them to police custody for five days, a senior police officer said.

Three directors of Amrapali Group -- Anil Kumar Sharma, Shiv Priya and Ajay Kumar are already in judicial custody.