Rakesh Gupta arrested by ED in 168cr money laundering probe
Dr. Rakesh Gupta, who heads the Sadhna Group (the folks behind Sadhna TV), has been arrested by the Enforcement Directorate over a huge ₹168 crore money laundering case.
He was picked up at Ishwar Farms and will stay in ED custody until October 15 as the investigation continues.
ED alleges 110.10cr tax settled 20L
Authorities say Gupta took advantage of Sadhna Media's insolvency by using connected creditors to settle a massive ₹110.10 crore tax bill for just ₹20 lakh.
The ED also claims the company paid ₹4.48 crore to connected creditors, including about ₹2.99 crore paid to Gupta's company, Sharpline Broadcast Ltd.
during this period, and there are questions about unaccounted cash flows linked to company sales.
Plus, the ED cited a SEBI order in a separate ₹58 crore share manipulation case involving Sadhna Broadcast Ltd, in which SEBI identified Gupta as the mastermind.
More court dates are on the way as things unfold.