New Delhi: The Enforcement Directorate (ED) is likely to file a chargesheet on Friday in connection with its ongoing money laundering probe into an alleged ₹40,000 crore loan fraud linked to Anil Ambani’s Reliance Communications (RCOM), official sources said.
The prosecution complaint will be filed under the Prevention of Money Laundering Act (PMLA), with former RCOM president Punit Garg and several others expected to be named as accused. Garg, 61, had been arrested by the ED in January this year.
According to the agency, Garg allegedly played a key role over two decades, from 2001 to 2025, in managing and concealing proceeds of crime generated through the suspected bank fraud. Investigators claim that funds were diverted and routed through multiple overseas subsidiaries and offshore entities linked to RCOM.
The development comes amid a wider probe into financial irregularities involving companies under the Reliance Group. In December 2025, the ED had filed a separate chargesheet against Reliance Power and others in a case related to an alleged fake bank guarantee worth ₹68 crore used to secure a tender.
The central agency has also constituted a Special Investigation Team (SIT) following directions from the Supreme Court of India to examine the broader financial dealings of the group.
The case marks one of the largest ongoing financial crime investigations in recent years, with agencies focusing on tracing fund diversion and ensuring accountability in corporate lending practices.
