Key Facts
The Enforcement Directorate (ED) on Friday (June 12, 2026) arrested two former executives of the Reliance Anil Ambani Group (RAAG) under the Prevention of Money Laundering Act (PMLA) in Mumbai. The accused, Sateesh Seth and Gautam Doshi, previously served as directors of Reliance Telecom Ltd. The ED obtained transit remand and is taking them to Delhi, where the case is registered.
Details of the Case
The Central Bureau of Investigation (CBI) had earlier booked and raided the premises of Seth and Doshi in March as part of an investigation into an alleged loan fraud of ₹114.98 crore at the State Bank of India (SBI). According to the CBI, SBI was a member of a consortium of 11 banks that sanctioned a total term loan facility of ₹735 crore to Reliance Telecom Ltd. The ED has taken cognisance of the CBI complaint and is probing the roles of the two former executives in this bank loan fraud.
Impact and What Readers Should Know
This arrest marks a significant step in the ongoing investigation into financial irregularities involving corporate loans. The case highlights the coordinated efforts of investigative agencies like the CBI and ED to tackle alleged fraud and money laundering. Readers should note that the accused are presumed innocent until proven guilty in a court of law.
FAQ
- Who were arrested by the ED in this case? Sateesh Seth and Gautam Doshi, former directors of Reliance Telecom Ltd., were arrested.
- What is the amount involved in the alleged loan fraud? The alleged loan fraud is of ₹114.98 crore at the State Bank of India.
- Which agency initially investigated the case? The Central Bureau of Investigation (CBI) had booked and raided the premises of the two executives in March.