The case originates from a CBI investigation into an alleged Rs 114.98 crore fraud linked to a State Financial institution of India-led banking consortium loan to Reliance Telecom Ltd.
The Enforcement Directorate on Friday arrested two former executives of the Reliance Anil Ambani Group (RAAG) below the Prevention of Cash Laundering Act (PMLA) in Mumbai, officers stated.
The ED has taken transit remand of Sateesh Seth and Gautam Doshi, each of whom beforehand served as administrators of Reliance Telecom Ltd., and is taking them to Delhi because the case is registered in the nationwide capital, they stated.
The Central Bureau of Investigation (CBI) had booked and raided the premises of the two in March as a part of its investigation into an alleged loan fraud value Rs 114.98 crore on the State Financial institution of India (SBI).
“SBI was a member of the consortium of 11 banks which had sanctioned a complete of Rs 735 crore Time period Loan facility to Reliance Telecom Ltd,” the CBI had stated.
The ED is known to have taken cognisance of this CBI criticism and is investigating the roles of Seth and Doshi in this financial institution loan fraud case.
Printed on June 12, 2026
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