ED custody for ex Reliance ADAG executives in ₹11,500cr probe
Two former top Reliance ADAG executives, Amitabh Jhunjhunwala and Amit Bapna, have been sent to five days' Enforcement Directorate (ED) custody by a Delhi court.
They were arrested on April 15, and the court said the money trail of about ₹11,500 crore needs to be traced in the alleged shell-company-linked money laundering probe.
The judge highlighted the need to track where all this money actually went.
Part of ₹40,000cr banking scam
The ED says the two diverted loans from Reliance Home Finance and Reliance Commercial Finance using fake companies to cover their tracks and benefit insiders.
This case is just one piece of a larger banking scam being investigated, with irregularities totaling nearly ₹40,000 crore.
The court wants them back on April 21 as investigators dig deeper into who else might be involved.