Anil Ambani aide and Reliance Power top executive, Ashok Kumar Pal, arrested in money laundering probe
Reliance Group chairman Anil Ambani’s aide Ashok Kumar Pal, senior officer of Reliance Power Limited, was arrested by the Enforcement Directorate in connection with the alleged money laundering investigation in connection with the ADA group. He served as Executive Director and Chief Financial Officer (CFO) at Reliance Power Ltd.
Reliance Group chairman Anil Ambani’s aide Ashok Kumar Pal, senior officer of Reliance Power Limited, was arrested by the Enforcement Directorate in connection with the alleged money laundering investigation in connection with the ADA group. He served as Executive Director and Chief Financial Officer (CFO) at Reliance Power Ltd.
He was detained after being questioned at the central investigation agency’s Delhi office in the fake bank guarantee-related case. He is scheduled to appear before the judge today, Saturday, at 9:30.
Pal was arrested in the ADA Group case, which involved allegations of financial misappropriation linked to Yes Bank and companies within the ADA Group, formerly led by industrialist Anil Ambani. The ED is investigating Anil Ambani’s Reliance Group for alleged money laundering and financial irregularities worth over Rs 17,000 billion. This includes a loan of Rs 3,000 crore from Yes Bank, allegedly diverted between 2017 and 2019. ED is also investigating fake bank guarantees, including the Rs 68.2 crore guarantee offered to the Solar Energy Corporation of India.
Earlier, ED conducted raids on premises associated with the group and questioned key executives and Anil Ambani himself.
(This is a developing story)
