Satish Seth, ex-Reliance Group MD, sent to 14-day judicial custody in ED money laundering case
Synopsis
A Delhi court has remanded Satish Seth, former Group MD of Reliance Group and a close associate of Anil Ambani, to 14-day judicial custody in an ED money laundering probe tied to a ₹114.98 crore SBI loan fraud. It is the second arrest of a senior Reliance Group executive in weeks, with Amitabh Jhunjhunwala of RCom already in CBI custody over a separate ₹2,929.05 crore fraud.
Key Takeaways
Satish Seth , former Group MD of Reliance Group , was sent to 14-day judicial custody by a Delhi court on 18 June .
The Enforcement Directorate arrested Seth under the PMLA in connection with an alleged ₹114.98 crore bank loan fraud involving Reliance Telecom Ltd and SBI .
Fellow accused Gautam Doshi , 73 , former Director of Reliance Telecom, was also arrested alongside Seth in Mumbai .
The ED probe stems from a CBI FIR ; the CBI has invoked the Prevention of Corruption Act against unknown public servants.
Earlier this month, Amitabh Jhunjhunwala , former MD of RCom , was arrested by the CBI in a separate ₹2,929.05 crore fraud case.
A Reliance Group spokesperson confirmed Seth and Doshi are no longer associated with the Group.
A Delhi court on Thursday, 18 June remanded Satish Seth, former Group Managing Director of Reliance Group and ex-Vice-Chairman of Reliance Infrastructure, to 14 days' judicial custody in connection with a money laundering investigation being conducted by the Enforcement Directorate (ED). Seth, a close associate of industrialist Anil Ambani, was brought to Delhi from Mumbai on transit remand after his arrest under the Prevention of Money Laundering Act (PMLA).
How Seth Came to Be in Custody
The Dwarka court ordered the judicial remand after the ED produced Seth before the bench a day before the expiry of his agency custody, which was scheduled to end on 19 June. Seth, 70, had been arrested alongside Gautam Doshi, 73, former Director of Reliance Telecom, in Mumbai. Both were subsequently transported to Delhi on transit remand.
A Reliance Group spokesperson confirmed that Seth and Doshi are no longer associated with the Group.
The Underlying Fraud Allegations
The ED's money laundering probe stems from a Central Bureau of Investigation (CBI) case centred on an alleged bank loan fraud of ₹114.98 crore involving Reliance Telecom Ltd and the State Bank of India (SBI). According to the CBI, Reliance Telecom Ltd, along with its then Directors Seth and Doshi, was booked on charges of criminal conspiracy and cheating.
The SBI, in its complaint, alleged that the accused caused a wrongful loss of ₹114.98 crore to the bank. The lender was part of a consortium of 11 banks that had sanctioned a term loan facility of ₹735 crore to Reliance Telecom Ltd. The ED is understood to be examining the alleged diversion and misuse of those loan funds. The central agency has also invoked provisions of the Prevention of Corruption Act against unknown public servants and others.
CBI Searches and Evidence Gathered
Following registration of the case in March, the CBI conducted searches at multiple locations in Mumbai, including the residences of Seth and Doshi and the registered office of Reliance Telecom Ltd. Documents linked to loan transactions and financial dealings were recovered during those searches.
Broader Pattern of Investigations Into Reliance Group
This latest development comes amid a widening series of probes into alleged financial irregularities involving companies linked to the Reliance Group. Earlier this month, the CBI arrested Amitabh Jhunjhunwala, former Group Managing Director of Reliance Communications (RCom), in connection with a separate alleged loan fraud case involving a loss of ₹2,929.05 crore. Notably, this is at least the second senior Reliance Group figure arrested within weeks, underscoring the scale of the ongoing scrutiny.
Seth's next court appearance will determine whether the ED seeks further custody or the case moves toward a formal chargesheet filing.
Point of View
Coming within weeks of Amitabh Jhunjhunwala's detention, signals that investigative agencies are systematically working through the senior leadership tier of Anil Ambani's erstwhile empire. What is striking is the scale differential: the SBI fraud at the heart of Seth's case is ₹114.98 crore, yet the broader Reliance Group probe ecosystem now encompasses alleged losses exceeding ₹3,000 crore across multiple entities. The CBI's invocation of the Prevention of Corruption Act — targeting unnamed public servants — suggests investigators believe the fraud extended beyond corporate boardrooms. Whether these cases converge into a single, larger prosecution or proceed on separate tracks will define the legal trajectory for the months ahead.
NationPress
3 Aug 2026
Frequently Asked Questions
Why was Satish Seth sent to judicial custody?
Satish Seth was sent to 14-day judicial custody by a Delhi court on 18 June after the Enforcement Directorate produced him before the Dwarka court a day before his ED custody was set to expire on 19 June. He was arrested under the PMLA in connection with an alleged ₹114.98 crore bank loan fraud involving Reliance Telecom Ltd and SBI.
What is the money laundering case against Satish Seth?
The ED's money laundering case is based on a CBI FIR alleging that Reliance Telecom Ltd, along with its then Directors Seth and Gautam Doshi, committed criminal conspiracy and cheating, causing a wrongful loss of ₹114.98 crore to SBI. SBI was part of an 11-bank consortium that had sanctioned a ₹735 crore term loan to Reliance Telecom Ltd.
Who else has been arrested in the Reliance Group fraud investigations?
Gautam Doshi, 73, former Director of Reliance Telecom, was arrested alongside Seth in Mumbai. Separately, Amitabh Jhunjhunwala, former Group MD of Reliance Communications (RCom), was arrested by the CBI earlier this month in a distinct alleged loan fraud case involving a loss of ₹2,929.05 crore.
Is Satish Seth still associated with Reliance Group?
No. A Reliance Group spokesperson confirmed that Satish Seth, 70, and Gautam Doshi, 73, are no longer associated with the Group.
What happens next in the case?
Seth will remain in judicial custody for 14 days. The ED is expected to continue examining the alleged diversion and misuse of loan funds, and the case may progress toward a formal chargesheet filing under the PMLA.
