India's ED Arrests Two Former Reliance Telecom Directors in Bank Loan Fraud Case
India's Enforcement Directorate arrested former Reliance Anil Ambani Group executives Gautam Doshi and Sateesh Seth in Mumbai on June 12, 2026, under the Prevention of Money Laundering Act. The arrests follow a CBI investigation into an alleged bank loan fraud of approximately Rs 114.98 crore at the State Bank of India, part of a Rs 735 crore term loan facility extended by a consortium of 11 banks to Reliance Telecom Ltd. The case marks a significant escalation in the ongoing financial fraud probe targeting former top leadership of Anil Ambani's business empire.
The Enforcement Directorate arrested Gautam Doshi and Sateesh Seth, both former directors of Reliance Telecom Ltd. and close associates of Anil Ambani, in Mumbai on June 12, 2026, under the Prevention of Money Laundering Act. Both were taken on transit remand to Delhi, where the case is registered, though Seth was hospitalised at JJ Hospital in Mumbai following his arrest and was subsequently produced before a Mumbai court via video conference, which granted him a two-day ED custody with transit remand to appear before a Delhi court on June 14. The ED's action is based on a CBI complaint filed in March 2026, which alleged a bank fraud exceeding Rs 100 crore involving SBI as the lead bank in a consortium of 11 lenders that had sanctioned a total Rs 735 crore term loan to Reliance Telecom. Doshi and Seth join Amitabh Jhunjhunwala — another former group MD and vice-chairman of Reliance Capital — who is already in judicial custody, completing what investigators describe as the core leadership trio of Ambani's group. Doshi has a prior arrest history, having been detained by the CBI in 2011 in the 2G spectrum scam case before being granted bail after seven months. A spokesperson for Anil Ambani had previously stated that all three former executives were no longer associated with the Reliance group at the time of their arrests.
What's missing
The sources do not detail what specific actions by Seth and Doshi allegedly constituted money laundering under PMLA as distinct from the underlying bank fraud alleged by the CBI.
How coverage differed
The Hindu and NDTV provided brief, factual wire-style reports focused on the arrests and the CBI complaint. The Times of India offered significantly more detail, including Seth's hospitalisation, Doshi's prior 2G scam arrest, the role of Jhunjhunwala as a previously arrested associate, and statements from an Ambani spokesperson — framing the story with broader investigative and personal background.
What different sources said
- The HinduCenter
ED arrests two former executives of Reliance Anil Ambani Group
- NDTVCenter
Probe Agency ED Arrests 2 Former Directors Of Reliance Telecom
- Times of IndiaCenter
Ex-RCom execs Doshi & Seth arrested by ED in ADAG case
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