Ashok Kumar Pal, a deputy to Reliance Group Chairman Anil Ambani, has been taken into custody by the Enforcement Directorate in relation to a money laundering case against Reliance Power.
Key Highlights
- ED arrests Reliance Power CFO Ashok Kumar Pal in a money laundering probe linked to fake bank guarantees and invoices.
- Investigation centers on alleged financial misconduct involving the ADA Group, Yes Bank, and diversion of funds via falsified guarantees.
The current CEO and former director of Reliance Power is Ashok Kumar Pal. He has been charged with involvement in the money laundering case involving the company's purportedly fraudulent bank guarantees.
Officials announced the day that the Anil Ambani aide had been arrested and placed under arrest in accordance with the Prevention of Money Laundering Act (PMLA).
The arrest is the result of an ED investigation into a ₹17,000 crore bank fraud case involving the Anil Ambani group of companies, which includes Reliance Power.
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As part of its money laundering investigation into the Reliance Group of Companies under the Prevention of Money Laundering Act (PMLA), the Enforcement Directorate began searching more than 35 locations in Delhi and Mumbai on Thursday, July 24, 2025.
ED raids on Thursday were linked to a ₹3,000-crore bank loan scam involving Yes Bank and the Reliance Group of Companies, which is owned by Anil Ambani, according to several media reports.
