Reliance Power CFO Arrested: ED Detains Anil Ambani's Aide in Rs 68 Crore Bank Guarantee Fraud Case

Oct 11, 2025 01:55 pm CST

The Enforcement Directorate has arrested Ashok Kumar Pal, CFO of Reliance Power and aide to Anil Ambani, for alleged money laundering involving fake bank guarantees worth Rs 68 crore submitted to a government energy corporation. The case connects to broader investigations into the Ambani group concerning potential loan diversions exceeding Rs 17,000 crore across multiple companies, with authorities uncovering sophisticated fraud techniques including spoofed banking domains and shell companies.