Sateesh Seth sent to 14-day judicial custody over ₹92cr laundering
Business
Sateesh Seth, former Managing Director of Reliance Anil Ambani Group, has been sent to 14 days' judicial custody by a Delhi court.
This comes after the Enforcement Directorate questioned him for six days about alleged laundering of ₹92 crore in public funds through fake diamond import bills.
Vacation Judge Rashmi Gupta ordered his custody until July 2 under the Prevention of Money Laundering Act.
Reliance Infrastructure linked to fraud probe
Seth can take his glasses and medicines with him, and the court asked jail officials to consider his request for a bed under prison rules.
The probe also links Reliance Infrastructure Ltd., part of the group, to suspected fraud involving highway projects, where funds were allegedly moved overseas using shell companies and hawala channels.