New Delhi, August 9: The Directorate of Enforcement (ED) has filed a Supplementary Prosecution Complaint in the Reliance Communications Limited case before the Special Court under the Prevention of Money Laundering Act (PMLA), with the agency quantifying the proceeds of crime at Rs 40,185.55 crore.
According to an ED press release dated August 9, the Supplementary Prosecution Complaint was filed on August 8 under the PMLA, 2002, before the Special Court (PMLA) at Rouse Avenue District Courts in New Delhi.
The supplementary complaint has been filed in ECIR/STF/26/2025 and PMLA Special Case No. 20 of 2026, in continuation of the first Prosecution Complaint dated March 27, 2026. Reliance Communications Limited (RCOM), Reliance Telecom Limited (RTL), Gautam Bhailal Doshi, Sateesh Seth, Amitabh Jhunjhunwala and others have been arraigned as accused for offences under Section 3 and Section 3 read with Section 70 of the PMLA, punishable under Section 4 of the Act, the ED said.
The ED said it initiated its investigation on the basis of multiple FIRs registered by the CBI’s Banking Securities and Fraud Branch, New Delhi, following complaints from banks and financial institutions. According to the agency, the scheduled offences concern the alleged fraudulent availing and diversion of fund-based and non-fund-based credit facilities by RCOM, RTL and Reliance Infratel Limited. The investigation covers multiple interconnected transactions.
The ED alleged that fresh credit facilities were repeatedly and fraudulently used to repay, rotate and evergreen earlier domestic and foreign liabilities instead of being utilised for their sanctioned end-use. The agency said funds were layered through group companies, purpose-built conduit entities, multiple bank accounts and liquid mutual funds.
According to the ED, funds were also allegedly used to service earlier External Commercial Borrowings and Foreign Currency Convertible Bonds (FCCBs) and were projected as legitimate business expenditure or receipts.
The investigation further found, according to the agency, that the alleged fraudulent scheme had commenced at least by 2007 and continued thereafter as one connected and continuing course of criminal activity. The ED alleged that loan proceeds were diverted to group companies, including Reliance Infrastructure Ltd. and Reliance Capital Ltd.
The agency further alleged that funds were siphoned off for the purchase of personal assets for promoters outside India and were used to artificially inflate profits for RCOM.
The ED has quantified the proceeds of crime at Rs 40,185.55 crore, which it said represents the total outstanding amount defaulted by the borrower entities to consortium banks, financial institutions and bondholders.
The agency said its investigation had brought out distinct roles of the accused in the raising, deployment, concealment and projection of the funds, including alleged false certification concerning the end-use of US$1 billion in FCCB proceeds.
The ED said it has sought confiscation of properties worth Rs 8,078.06 crore that have been attached and whose attachment has been confirmed by the Adjudicating Authority. These properties include leasehold and immovable assets in New Delhi, Navi Mumbai, Bhubaneswar, Chennai and Pune.
In the same ECIR, Gautam Bhailal Doshi was arrested on June 12, 2026, while Sateesh Seth was arrested on July 9, 2026. Both are in judicial custody, according to the ED.
The Special Court (PMLA) took cognizance of the main prosecution complaint in the case on June 15, 2026. The ED said further investigation is underway.
