Key Facts
A Delhi court on Monday (June 15, 2026) took cognisance of the Enforcement Directorate's (ED) chargesheet in a money laundering case linked to Reliance Communications (RCom) and dismissed the bail plea of the company's former president and director, Punit Garg.
Special Judge Ajay Gupta declined bail to the 61-year-old executive and posted the matter for further consideration on July 4. A detailed order is awaited.
Details of the Case
The case stems from allegations that large sums raised through bank loans were diverted and routed through a web of overseas subsidiaries and offshore entities. The ED claims that Mr. Garg was involved in managing and concealing the alleged proceeds of crime during his long association with the telecom company.
Mr. Garg was arrested in January under the provisions of the Prevention of Money Laundering Act (PMLA). Investigators allege that the funds under scrutiny were transferred through several foreign-linked entities connected to RCom.
Impact and What Readers Should Know
The chargesheet filed by the ED names Mr. Garg among the accused in what is being investigated as a major financial fraud. The court had previously dismissed his bail plea, in which he sought release citing medical conditions.
This development marks a significant step in the ED's probe into alleged financial irregularities at RCom, one of India's major telecom companies that has faced financial troubles in recent years.
FAQ
Who is Punit Garg?
Punit Garg is the former president and director of Reliance Communications (RCom), arrested in a money laundering case.
What did the Delhi court decide?
The court took cognisance of the ED chargesheet and dismissed Garg's bail plea, posting the matter for July 4.
What are the allegations against Garg?
He is accused of diverting bank loans through overseas subsidiaries and concealing proceeds of crime.