The chief financial officer (CFO) of industrialist Anil Ambani’s Reliance Power has been arrested by the Enforcement Directorate (ED) in connection with a money-laundering case related to the issuance of a purported fraudulent bank guarantee amounting to Rs 68 crore, official sources revealed on Saturday (October 11).

Ashok Pal, the arrested official, was taken into custody on Friday (October 10) night under the Prevention of Money Laundering Act (PMLA) following an interrogation by the agency, the official sources added.

Pal sent to two-day ED custody

On Saturday, he was produced before a magistrate and sent to two days of ED custody. Pal will be taken to a special PMLA court on Monday (October 13) once the remand period expires, sources added.

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