27 March,2026 02:52 PM IST | New Delhi | mid-day online correspondent
A Special Investigation Team (SIT) has been constituted by the ED under the direction of the Supreme Court for the probe. File Pic
The Enforcement Directorate (ED) is expected to file a chargesheet on Friday as part of its ongoing money laundering investigation into an alleged Rs 40,000 crore loan fraud involving Anil Ambani's company, Reliance Communications, and its former executives, official sources told the PTI.
The prosecution complaint will be lodged under the Prevention of Money Laundering Act (PMLA), with former RCOM president Punit Garg and several others likely to be named as accused, the news agency reported.
Garg, 61, who was arrested by the ED in January, allegedly played a key role in the acquisition, concealment, layering, and dissipation of funds derived from the bank fraud while holding senior managerial and directorial positions at RCOM between 2001 and 2025, according to the PTI.
The ED stated that the purportedly laundered funds were "diverted" through multiple foreign subsidiaries and offshore entities linked to RCOM.
In December 2025, the ED filed a separate chargesheet against Reliance Power Ltd and 10 others over an alleged fake bank guarantee of Rs 68 crore used to secure a tender.
A Special Investigation Team (SIT) has been constituted by the ED under the direction of the Supreme Court to probe alleged financial irregularities conducted by Ambani's group companies, highlighting the ongoing federal scrutiny of corporate financial practices, reported the PTI.
The Central Bureau of Investigation (CBI) on thursday reportedly conducted searches in Mumbai in connection with the Anil Ambani-Reliance Telecom SBI fraud case, reported the IANS.
The CBI has registered a case against Reliance Telecom Ltd and its former directors, Satish Seth and Gautam B Doshi, in connection with an alleged bank fraud of Rs 114.98 crore involving the State Bank of India (SBI).
The case also names unknown public servants and others, based on a complaint filed by the SBI.
Officials said the agency has invoked charges of criminal conspiracy and cheating under the Indian Penal Code, along with provisions of the Prevention of Corruption Act, 1988, related to alleged misuse of official position, according to the IANS.
(with PTI and IANS inputs)
