‘Funds sent to shell firms’: Court sends Anil Ambani’s ex-aides to ED custody
Indian Express·3h ago·Neutral
What Happened
A Delhi court sent Amitabh Jhunjhunwala and Amit Bapna, former executives of Reliance ADAG group, to five-day Enforcement Directorate custody. They face investigation under the Prevention of Money Laundering Act for allegedly siphoning Rs 11,500 crore through shell companies. The ED claims funds from Reliance Home Finance and Reliance Commercial Finance were diverted through interconnected entities. The investigation involves approximately Rs 40,000 crore in broader banking irregularities.
Key Entities
Amitabh JhunjhunwalaAmit BapnaReliance ADAGEnforcement DirectorateDelhi CourtPrevention of Money Laundering ActReliance Home FinanceReliance Commercial FinanceRs 11,500 croreSpecial Judge Hasan Anzar