ED arrests former RCOM Director Punit Garg in Rs.40K Cr Fraud Case
New Delhi, Jan. 31 -- The Enforcement Directorate (ED) has arrested Punit Garg, former director of Reliance Communications Ltd (RCOM), on money laundering charges as part of its probe into a case of alleged bank fraud worth Rs.40,000 crore against companies linked to Anil Ambani, the agency said on Friday.
"ED investigation has revealed that Punit Garg, while holding senior managerial and directorial positions in RCOM over an extended period from 2001 to 2025, was actively involved in the acquisition, possession, concealment, layering, and dissipation of proceeds of crime generated from the said bank fraud," the agency said in a statement. The agency added that Garg's arrest has been made under the prevention of money laundering Act, or PML...
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