All posts tagged: RCOM

CBI arrests former RCom MD Amitabh Jhunjhunwala in bank loan fraud case involving Anil Ambani

CBI arrests former RCom MD Amitabh Jhunjhunwala in bank loan fraud case involving Anil Ambani

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The Central Bureau of Investigation (CBI) has arrested Amitabh Jhunjhunwala, a senior executive of the Reliance Communications (RCom) Group. As per ANI, the arrests have been made in connection with an alleged bank loan fraud case involving the diversion and misuse of funds. According to officials, Jhunjhunwala served as the Group Managing Director of the Reliance Communications Group and was responsible for overseeing key functions, including corporate finance, banking operations, and the utilisation of funds.  Disclaimer: We do not own any of the content, ideas, images, or text presented here. All rights belong to their respective owners. For more information and to view the original source, please visit the following link: Source link

ED to file chargesheet in Rs 40,000 crore RCOM money laundering case

ED to file chargesheet in Rs 40,000 crore RCOM money laundering case

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The Enforcement Directorate (ED) is expected to file a chargesheet on Friday as part of its ongoing money laundering investigation into an alleged Rs 40,000 crore loan fraud involving Anil Ambani’s company, Reliance Communications, and its former executives, official sources told the PTI. The prosecution complaint will be lodged under the Prevention of Money Laundering Act (PMLA), with former RCOM president Punit Garg and several others likely to be named as accused, the news agency reported. Garg, 61, who was arrested by the ED in January, allegedly played a key role in the acquisition, concealment, layering, and dissipation of funds derived from the bank fraud while holding senior managerial and directorial positions at RCOM between 2001 and 2025, according to the PTI. The ED stated that the purportedly laundered funds were “diverted” through multiple foreign subsidiaries and offshore entities linked to RCOM. Previous actions by ED In December 2025, the ED filed a separate chargesheet against Reliance Power Ltd and 10 others over an alleged fake bank guarantee of Rs 68 crore used to secure …