The ED’s prosecution complaint or chargesheet has been marked to Special Judge Ajay Gupta and will come up for hearing on Saturday, said sources.
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The Enforcement Directorate (ED) has filed a prosecution complaint in a Rouse Avenue court against Punit Garg, the former Director of Reliance Communications (RCom) Ltd , in an alleged money laundering case linked to overall ₹40,000 crore-worth bank fraud.
The ED’s prosecution complaint or chargesheet has been marked to Special Judge Ajay Gupta and will come up for hearing on Saturday, said sources. Interim bail of Garg, arrested on January 29, will also be heard by Special Judge Ajay Gupta on the same day.
Punit Garg, arrested by the ED in January, this year, during his stint at senior managerial and directorial positions in RCOM from 2001 to 2025, was allegedly actively involved in the acquisition, possession, concealment, layering, and dissipation of proceeds of crime generated from the said bank fraud, the ED had said earlier.
Laundered funds
The agency had also alleged that the laundered funds were “diverted” through multiple foreign subsidiaries and offshore entities of RCOM.
ED in its probe allegedly found out that proceeds of financial crime were diverted to purchase a luxury condominium apartment in Manhattan, New York, United States of America (USA). Interestingly, as per the agency, this property was off loaded during the RCOM’s Corporate Insolvency Resolution Process (CIRP) fraudulently by Garg.
The money trail revealed that the sale proceeds of $ 8.3 million were remitted from the USA under the guise of a sham investment arrangement with a Dubai-based entity controlled by a Pakistan-linked individual, without the knowledge or consent of the Resolution Professional.
Not just that, the investigators also charged that a part of public money taken as bank loans by RCOM was routed for Garg’s personal expenses, including overseas education-related payments of his children.
This a fresh chargesheet filed by the ED. It had in December 2025 filed a prosecution complaint against Ambani’s group company, Reliance Power Ltd, and 10 others mainly under the PMLA to probe siphoning of funds in the issuance of an alleged fake bank guarantee of ₹68 crore for securing a tender.
Published on March 27, 2026
