India's Enforcement Directorate files charges against RCom and Reliance Infra over ₹40,000 crore fraud
The Enforcement Directorate lodged two chargesheets in New Delhi, accusing Reliance Communications, Reliance Infrastructure and several promoters of money-laundering and misusing bank funds exceeding ₹40,000 crore.
In a filing before a special court, the ED named Reliance Communications and Reliance Infrastructure Ltd as well as individuals Gautam Doshi, Sateesh Seth and Amitabh Jhunjhunwala as accused of defrauding banks of more than ₹40,000 crore. The agency also sought the seizure of assets worth Rs 8,078 crore that had been previously attached, including properties linked to the promoters and directors of the companies. The case highlights alleged large-scale financial misconduct within the Anil Ambani-led Reliance Group.
Why it matters
The charges could lead to massive asset seizures and signal tighter enforcement against large corporate fraud in India.
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