Mumbai, July 15 (IANS) The stocks of Future Enterprise on Monday fell over 5 per cent after the arrest of Executive Director and Chief Financial Officer Dinesh Maheshwari by Directorate of Revenue Intelligence on charges of custom duty evasion.

Going by the company's regulatory filing, Maheshwari was arrested on June 12, for custom duty evasion worth Rs 14.58 crore "by usage of facility of duty free imports from Bangladesh under South Asian Free Trade Area (SAFTA)" .

At 2.18 p.m., the Future Enterprise's stocks were trading 5.15 per cent lower at Rs 32.25 apiece, after hitting a low of 29.55 on the BSE.

--IANS ravi/in