The Enforcement Directorate on Friday night arrested Reliance Power CFO Ashok Kumar Pal, a top aide to Anil Ambani, in connection with a money laundering probe tied to the alleged ₹17,000-crore ADA Group loan fraud.

Pal, who serves as Executive Director and Chief Financial Officer of Reliance Power Ltd, was taken into custody from the ED’s Delhi office under the Prevention of Money Laundering Act (PMLA). He is expected to be produced before a Delhi court at 9:30 AM on Saturday. Advertisement

According to the ED, Pal played a “central role” in orchestrating a fraudulent bank guarantee worth over ₹68 crore, submitted to the Solar Energy Corporation of India (SECI). The guarantee was part of a broader racket involving fake invoicing, bogus companies, and spoofed email domains, all aimed at

See Full Page