The Enforcement Directorate (ED) on Saturday arrested Ashok Kumar Pal, a senior executive at Reliance Power and a close associate of industrialist Anil Ambani , in connection with money laundering charges linked to alleged bank loan frauds totaling Rs 17,000 crore.

Who is Ashok Kumar Pal?

Ashok Kumar Pal serves as the Executive Director and Chief Financial Officer (CFO) of Reliance Power Ltd. His arrest is part of the ongoing investigation into the massive loan fraud allegedly involving the company.

The case revolves around alleged financial misconduct involving Yes Bank and companies under the ADA Group, which was formerly headed by Anil Ambani. Authorities are probing the loans and transactions for irregularities that may have facilitated the massive fraud, according to an ET

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