ED likely to file chargesheet in RCOM loan fraud case
Business
Big news: The Enforcement Directorate (ED) may file a chargesheet today over an alleged ₹40,000 crore loan fraud linked to Reliance Communications (RCOM).
Former RCOM president Punit Garg, who was arrested in January in connection with the ED's probe, is expected to be named.
The case falls under India's anti-money laundering laws.
Accusations and previous chargesheet details
Garg is accused of moving funds through RCOM's foreign subsidiaries, a move the ED says was key to the whole scheme.
An earlier chargesheet named Reliance Power Ltd and 10 others in a money-laundering case linked to an alleged fake bank guarantee.
All of this comes as part of a bigger investigation ordered by the Supreme Court into financial misdeeds at several Anil Ambani firms.