RCom Money Laundering Probe: Former Reliance Exec Gautam Doshi Remanded to 5-Day ED Custody
A Delhi court on Saturday remanded former Reliance Telecom executive Gautam Bhailal Doshi to five days of Enforcement Directorate (ED) custody. The arrest comes as part of an ongoing investigation into alleged money laundering linked to Reliance Communications (RCom) and associated group entities. The ED is investigating claims of fund diversion and financial irregularities involving substantial loan amounts.
- Republic Business
- 2 min read
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The Rouse Avenue Court in New Delhi granted the ED five days of custody for Gautam Bhailal Doshi, valid until June 18, 2026. The former Reliance executive was produced before a vacation judge early Saturday morning following his arrest in Mumbai. The investigative agency had initially requested a 14-day remand to uncover the complete financial conspiracy and trace the trail of funds, but the court deemed five days sufficient for the initial phase of questioning.
The Enforcement Directorate’s investigation focuses on alleged financial discrepancies within the Reliance ADA Group. Authorities claim that Doshi held a position of significant authority, managing overseas financing, offshore corporate structures, and multiple bank accounts linked to group entities. Investigators are looking into allegations that loan funds, including those from a consortium of banks, were diverted from their intended purposes and layered through various entities.
Background
This development follows a series of regulatory actions against former executives of the Reliance Anil Ambani Group. Gautam Doshi, along with Satish Seth, was arrested by the ED under the Prevention of Money Laundering Act (PMLA). The agency took cognizance of a prior complaint regarding an alleged bank fraud involving State Bank of India (SBI) and other consortium members. Doshi is currently being questioned in Delhi, while other related proceedings continue as the agency attempts to identify the ultimate beneficiaries of the alleged funds.