ED Arrests Ex-Reliance Anil Ambani Group MD Sateesh Seth in Loan Fraud-Linked Money Laundering Case

New Delhi: A special court in Mumbai on Friday granted the Enforcement Directorate (ED) a two-day transit remand of businessman Sateesh Seth, who was recently arrested in connection with a money laundering probe linked to an alleged loan fraud case.  

Seth, a former Group Managing Director of the Anil Ambani-led Reliance Group, was detained by the central agency as part of an ongoing inquiry.

While granting the ED's request for transit remand, Special Judge D.D. Kurulkar stated that the charges and the accused's claimed conduct in the case demonstrated prima facie involvement in the offense.

The court ordered that Seth stay in ED custody until 11 a.m. on June 14 and told the agency to submit him to the competent court in Delhi within the time range specified.

According to court records, Seth could not be brought before the court within 24 hours of his detention owing to a medical emergency that necessitated hospitalization. He was later introduced to the court via video conference from Mumbai's JJ Hospital.

Meanwhile, Reliance Group confirmed that Seth is no longer associated with the business. A business official stated on Friday that Seth, who had sat on the boards of many Reliance Group firms, would leave the group in 2025.

The ED is looking into the potential money laundering features of a loan fraud case and plans to send Seth to Delhi for further proceedings.