ED Arrests Amitabh Jhunjhunwala, Amit Bapna in ₹40,000 Crore Reliance-Linked PMLA Probe

ED Cracks Down in Major Financial Probe

The Enforcement Directorate has arrested Amitabh Jhunjhunwala and Amit Bapna in connection with a money laundering investigation under the Prevention of Money Laundering Act (PMLA).

The case is linked to alleged loan fraud involving Reliance Home Finance Ltd and Reliance Commercial Finance Ltd.

Probe Linked to CBI FIRs

The investigation stems from multiple FIRs registered earlier by the Central Bureau of Investigation, which flagged large-scale financial irregularities and alleged diversion of bank funds.

These cases are related to companies associated with the Reliance Group led by Anil Ambani.

Key Roles Under Scanner

Amitabh Jhunjhunwala, a former group managing director of the Reliance Anil Ambani Group and vice chairman of Reliance Capital, is believed to have played a significant role in financial decision-making within the group.

Amit Bapna also held a senior executive position in Reliance Finance and is under investigation for his alleged involvement.

Massive Financial Irregularities Alleged

According to ED findings, companies linked to the group allegedly laundered funds worth over ₹40,000 crore.

The agency has reportedly attached assets worth around ₹17,000 crore, including high-value properties.

Anil Ambani Questioned Earlier

Investigative agencies, including the ED and CBI, have previously questioned Anil Ambani in connection with the case.

However, Ambani has maintained that he stepped down from the boards of the concerned companies in 2017.

Investigation Continues

Both accused are expected to be produced before a court, and further investigation is underway to trace financial transactions and determine accountability.