New Delhi: Ashok Kumar Pal, a top aide of Reliance Group chairman Anil Ambani, was arrested by the Enforcement Directorate (ED) on Saturday in connection with money laundering charges linked to alleged bank loan frauds worth Rs 17,000 crore.

Pal, a chartered accountant, has been working as the Chief Financial Officer at Reliance Power Limited for over seven years. He was taken into custody by the ED under provisions of the Prevention of Money Laundering Act (PMLA), NDTV has reported.

The case pertains to alleged financial irregularities and a collective loan “diversion” pegged at more than Rs 17,000 crore by Anil Ambani’s multiple group companies, including Reliance Infrastructure (R Infra). ADVERTISEMENT

The first allegation concerns the “illegal” loan diversion of around Rs 3,000 cro

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