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Updated - June 12, 2026 at 11:12 PM.

| New Delhi/Mumbai

The case originates from a CBI investigation into an alleged Rs 114.98 crore fraud linked to a State Bank of India-led banking consortium loan to Reliance Telecom Ltd.

The Enforcement Directorate on Friday arrested two former executives of the Reliance Anil Ambani Group (RAAG) under the Prevention of Money Laundering Act (PMLA) in Mumbai, officials said.

The ED has taken transit remand of Sateesh Seth and Gautam Doshi, both of whom previously served as directors of Reliance Telecom Ltd., and is taking them to Delhi as the case is registered in the national capital, they said.

The Central Bureau of Investigation (CBI) had booked and raided the premises of the two in March as part of its investigation into an alleged loan fraud worth Rs 114.98 crore at the State Bank of India (SBI).

"SBI was a member of the consortium of 11 banks which had sanctioned a total of Rs 735 crore Term Loan facility to Reliance Telecom Ltd," the CBI had said.

The ED is understood to have taken cognisance of this CBI complaint and is investigating the roles of Seth and Doshi in this bank loan fraud case.

Published on June 12, 2026

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