The Enforcement Directorate (ED) has arrested two senior executives associated with the Reliance Anil Ambani Group (RAAG), Sateesh Seth and Gautam Doshi, in connection with an ongoing money laundering investigation. The arrests, made on June 12, fall under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.
Allegations Against the Executives
According to the ED, Sateesh Seth was apprehended in a case linked to Reliance Infrastructure Ltd, while Gautam Doshi's arrest is connected to a separate probe involving Reliance Communications Ltd and other entities. Both individuals held significant positions within the Anil Ambani Group, overseeing critical financial and operational aspects.
Investigators allege that Seth, who served as Group Managing Director and held directorships in various infrastructure and power firms, was "instrumental in siphoning off of public funds" from road construction projects undertaken by Reliance Infrastructure Ltd. He has been associated with the group since 2000, holding key managerial roles.
Gautam Doshi, also a long-standing group veteran, was responsible for functions including taxation, planning, compliance, and risk management. The ED claims Doshi "played a key role in creating the corporate structure" used to siphon alleged proceeds of crime from Reliance Communications Ltd and Reliance Telecom Ltd. He also served as a director in Reliance Telecom Ltd and was an authorized signatory for numerous Indian and overseas group bank accounts.
Court Proceedings and Ongoing Investigation
Following his arrest, Sateesh Seth was presented before a Special PMLA Court in Greater Bombay, Maharashtra, which granted transit remand. He was subsequently produced before a Special PMLA Court in Dwarka, New Delhi, and remanded to ED custody for six days for further questioning.
Gautam Doshi appeared before the Special PMLA Court at Rouse Avenue in New Delhi and was remanded to ED custody for five days. The Enforcement Directorate has stated that its investigation into the matter is actively ongoing, suggesting potential further developments as the probe continues.