ED arrests two Anil Ambani group veterans. Here’s what investigators are alleging

The Enforcement Directorate (ED) has arrested Sateesh Seth and Gautam Bhailal Doshi, both Group Managing Directors (GMDs) of the Reliance Anil Ambani Group (RAAG), in connection with its ongoing money laundering investigation into group companies.

In a statement on Monday, the agency said Seth and Doshi were arrested on June 12 under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.

According to the ED, Seth was arrested in a case linked to Reliance Infrastructure Ltd and others, while Doshi was arrested in connection with a separate case involving Reliance Communications Ltd and others.

The agency said Seth has been associated with the Reliance Anil Ambani Group for a substantial period and served as Group Managing Director, exercising control over key commercial and financial decisions across several group companies. He has also held directorships in multiple firms in the infrastructure, power, and allied sectors and has occupied key managerial positions in Reliance Infrastructure since 2000.

Doshi, the ED said, also had a longstanding association with the group and oversaw functions including taxation, planning, compliance and risk management. He served as a director in Reliance Telecom Ltd and was an authorised signatory for bank accounts of multiple Indian and overseas group entities.

The ED alleged that its investigation has revealed Seth was “instrumental in siphoning off of public funds” from road construction projects undertaken by Reliance Infrastructure Ltd.

The agency further alleged that Doshi “played a key role in creating the corporate structure” that was used for siphoning off alleged proceeds of crime from Reliance Communications Ltd and Reliance Telecom Ltd.

Following his arrest, Seth was produced before a Special PMLA Court in Greater Bombay, Maharashtra, which granted the ED transit remand. He was later produced before the Special PMLA Court in Dwarka, New Delhi, and remanded to ED custody for six days.

Doshi was produced before the Special PMLA Court at Rouse Avenue in New Delhi, which remanded him to ED custody for five days.

The agency said further investigation in the matter is underway.