ED Arrests Anil Ambani Group CFO Ashok Pal in Fake Bank Guarantee Case

New Delhi (The Uttam Hindu): In a major development, the Enforcement Directorate (ED) has arrested Ashok Kumar Pal, the Chief Financial Officer (CFO) and Executive Director of the Reliance Anil Ambani Group, in connection with a money laundering case involving fraudulent bank guarantees.

According to officials, Pal is accused of playing a key role in a conspiracy to create fake bank guarantees through certain group companies to secure financial gains. The ED is currently scrutinizing multiple documents, banking records, and financial transactions related to the case to uncover the full extent of the alleged fraud.

This arrest marks another significant setback for the Anil Ambani business empire, which has been struggling for years with debt burdens, financial irregularities, and ongoing legal challenges. Sources indicate that the agency may soon summon and question other senior officials linked to the case to determine their involvement.

The probe is part of the ED’s broader effort to trace illicit financial activities and misuse of banking instruments by corporate entities. Officials stated that more arrests or property attachments could follow as the investigation progresses.