Ashok Kumar Pal faces money laundering charges linked to alleged ₹17,000-crore default by ADA Group firms
By Sreelatha M
11 Oct 2025
The Enforcement Directorate (ED) has arrested Ashok Kumar Pal, Chief Financial Officer of Reliance Power and a senior executive in the Anil Dhirubhai Ambani (ADA) Group, in connection with a money laundering probe linked to an alleged ₹17,000-crore loan fraud.
According to officials, Pal was taken into custody from Delhi late on Friday under provisions of the Prevention of Money Laundering Act (PMLA). He is accused of facilitating fake bank guarantees and aiding in the diversion of loan funds.
The arrest follows a series of ED searches at premises linked to Reliance Power and Reliance Infrastructure earlier this year. Investigators allege that forged documents were used to obtain or restructure loans from a consortium of banks, leading to significant losses to lenders.
Pal is expected to be produced before a special PMLA court in Mumbai, where the ED will seek his custodial remand for further interrogation.
The probe is part of a broader investigation into financial irregularities involving companies of the ADA Group. The group and its officials are yet to issue a statement on the latest development.
