New Delhi: (Rajeev Sharma): The Enforcement Directorate (ED) has stepped up its investigation into an alleged money laundering network after securing six days of custodial interrogation of Sateesh Seth, the former Group Managing Director of the Reliance Anil Ambani Group (RAAG), from a Delhi court.
The Dwarka Court allowed the agency’s plea, observing that sustained questioning was necessary to trace the alleged proceeds of crime, identify those who benefited from the transactions and reconstruct the complete financial trail.
The case revolves around accusations that funds were illegally routed overseas through hawala channels by generating fabricated invoices linked to allegedly inflated diamond imports. Investigators believe the transactions were part of a larger mechanism designed to transfer money outside India while concealing its origin.
According to the ED, the inquiry under the Prevention of Money Laundering Act (PMLA) has uncovered suspected financial irregularities connected to two National Highways Authority of India (NHAI) road projects — the Jaipur-Reengus Toll Road and the Trichy-Karur Toll Road.
The agency has alleged that Reliance Infrastructure Limited (RIL) emerged as one of the principal beneficiaries of the alleged scheme, claiming that nearly ₹92 crore was siphoned abroad through a network of shell entities created to disguise the movement of funds.
Investigators contend that these entities were allegedly used to layer transactions and obscure the final destination of the money, making detailed custodial interrogation crucial for identifying additional links in the network.
During the hearing, the ED argued that questioning the accused in custody would help uncover the identities of other individuals and entities allegedly involved and assist in tracking assets connected to the suspected laundering operation.
The investigation remains ongoing, with officials examining financial records and cross-border transactions to determine the extent of the alleged conspiracy. Authorities have indicated that further arrests or legal action may follow depending on the evidence gathered.
The allegations are presently under judicial scrutiny, and the accused retains the right to contest the charges through the legal process as the investigation progresses.
