ED Arrests Reliance Executive Amid Money Laundering Probe

The Enforcement Directorate detained Ashok Pal, CFO of Reliance Power under the Prevention of Money Laundering Act. This action is part of a broader investigation into alleged multi-crore bank frauds involving Anil Ambani's group of companies.

The Enforcement Directorate (ED) has taken significant action in its investigation into alleged bank fraud involving Anil Ambani's business empire. On Friday, ED officials arrested Ashok Pal, Chief Financial Officer of Reliance Power, under the Prevention of Money Laundering Act, official sources disclosed on Saturday.

The move marks a crucial development in the ongoing probe targeting the Anil Ambani group of companies, which have been accused in multiple crores worth of bank fraud cases. Sources close to the investigation revealed that the arrest is part of a sustained effort to unravel suspected financial irregularities.

The case underscores the seriousness with which authorities are pursuing financial malfeasance in major corporate houses in India, indicating a tightening noose around other potentially implicated entities and individuals.

(With inputs from agencies.)