ED arrests Reliance Telecom directors Seth, Doshi in 114.98cr fraud
Business
The Enforcement Directorate (ED) just arrested two Reliance Telecom directors, Sateesh Seth and Gautam Doshi, in Mumbai.
They are accused of being involved in a ₹114.98 crore loan fraud tied to the State Bank of India (SBI), and were being taken to Delhi for further questioning on money-laundering charges.
CBI probes 735cr Reliance Telecom loan
This all started after the CBI began investigating, discovering that Reliance Telecom had a massive ₹735 crore term loan facility sanctioned from a group of 11 banks, including SBI.
Now, the ED is digging deeper into how these funds may have been misused and whether money was laundered.