The Enforcement Directorate (ED) has arrested Ashok Kumar Pal, identified as the Chief Financial Officer (CFO) and a former director of Reliance Power, under provisions of the Prevention of Money Laundering Act (PMLA).
Official sources indicate that the arrest is connected to an alleged money laundering case involving fake bank guarantees attributed to Reliance Power. This action is part of a wider ED investigation into companies associated with the Anil Ambani group, including Reliance Power, concerning an alleged ₹17,000 crore bank fraud case.
The detention follows search operations conducted by the ED on Thursday, July 24, 2025, at more than 35 premises across Mumbai and Delhi, as part of its ongoing PMLA inquiry into the Reliance Group. Media reports have suggested these raids were also linked to an alleged ₹3,000-crore bank loan fraud involving the Anil Ambani-owned Reliance Group of Companies and Yes Bank.
Source: https://www.livemint.com/news/india/reliance-group-cfo-ashok-kumar-pal-arrested-by-ed-in-money-laundering-case-anil-ambani-11760153322597.html