The Enforcement Directorate (ED) has arrested the chief finance officer (CFO) of Reliance Power Ltd (RPL), Ashok Kumar Pal, in a money laundering case linked to the issuance of an alleged fake bank guarantee of ₹68 crore. A local court has sent him to two days’ custody of the ED for further interrogation, after being produced on Saturday, sources said.

Pal, considered a close aid of group head Anil Ambani, was taken into custody on Friday night under provisions of the Prevention of Money Laundering Act (PMLA) following his questioning by ED, sources said.

RPL is a listed company where the public holds more than 75 per cent shares and ED has alleged that Pal played a crucial role in diversion of funds from the public listed company.

After the RPL board empowered him (and others) to f

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