New Delhi, Oct. 13 -- A court today granted the Enforcement Directorate (ED) three more days of custodial remand for Ashok Kumar Pal, the Chief Financial Officer of Reliance Power, in a money laundering case related to a fake loan guarantee of Rs 68 crore.
Pal, who was already on a two-day ED remand, was produced before the court, which extended his custody after the federal probe agency argued that further interrogation was necessary.
The ED alleged that Pal, as CFO of the Anil Ambani Group company, was central to a scheme to defraud the Solar Energy Corporation of India (SECI) by submitting a bogus bank guarantee for over Rs 68 crore.
According to a senior ED official, Pal was taken into custody after being summoned for questioning at ...