The Enforcement Directorate (ED) has arrested two former executives of the Reliance Anil Ambani Group under the Prevention of Money Laundering Act (PMLA) in Mumbai, officials confirmed on 13 June. The agency took transit remand of Satish Seth and Gautam Doshi, who previously served as directors of Reliance Telecom Ltd, in connection with an alleged bank loan fraud case.

Background of the Case

The Central Bureau of Investigation (CBI) had booked and raided the premises of both individuals in March as part of its probe into an alleged loan fraud worth ₹114.98 crore at the State Bank of India (SBI). The ED is understood to have taken cognisance of the CBI complaint and is now independently investigating the roles of Seth and Doshi in the alleged fraud.

According to the CBI, the SBI was one of a consortium of 11 banks that had collectively sanctioned a total ₹735 crore term loan facility to Reliance Telecom Ltd. Seth, who also previously served as Vice Chairman of Reliance Infrastructure, will be produced before a Delhi court for further custody proceedings.

What the Reliance Group Said

A Reliance Group spokesperson distanced the conglomerate from the arrested individuals, stating that Satish Seth (age 70) and Gautam Doshi (age 73) 'are not associated with the Group.'

The spokesperson elaborated that Seth 'served the Group as a Group Managing Director and as a Director on the Boards of several companies' and 'left the Group in 2025.' Doshi, similarly, 'served the Group as a Group Managing Director and as a Director on the Boards of several companies, both within and outside the Group' and 'left the Group six years ago, in 2020,' the spokesperson added.

Earlier Arrests in the Same Probe

The arrests of Seth and Doshi follow a broader enforcement sweep tied to the Reliance Anil Ambani Group's alleged banking irregularities. Earlier in June, the CBI arrested Amitabh Jhunjhunwala, former Group Managing Director of Reliance Communications, in connection with an alleged loan fraud that reportedly caused a loss of ₹2,929.05 crore to the SBI. He was subsequently produced before a court, following which the CBI formally arrested him.

NCLT Initiates Insolvency Proceedings Against Anil Ambani

In a parallel development, the National Company Law Tribunal (NCLT) on Thursday admitted a plea filed by the SBI and initiated personal insolvency resolution proceedings against industrialist Anil Ambani in his capacity as a personal guarantor for loans extended to Reliance Communications (RCOM) and Reliance Infratel Ltd (RITL).

Responding to the NCLT order, a spokesperson for Anil Ambani said the order, once available, would be reviewed by his legal team and challenged through appropriate legal remedies as advised. 'Mr Ambani remains confident of vindicating his position before the appropriate forums,' the spokesperson said.

What Happens Next

Seth is to be produced before a Delhi court for custody determination, while the ED's PMLA investigation is expected to widen as the agency examines fund trails linked to the consortium loan. The NCLT insolvency proceedings against Anil Ambani add a separate legal front, with his legal team signalling an imminent challenge. The cumulative enforcement pressure on the Reliance Anil Ambani Group marks one of the most significant legal escalations against the conglomerate in recent years.