A local Delhi court on Thursday sent former Reliance Power Chief Financial Officer ( CFO) Ashok Pal to judicial custody, days after his arrest in connection with an ongoing investigation.
Pal had resigned from his position at the Anil Ambani-led company shortly after being taken into custody.
The Enforcement Directorate arrested Pal, a close aide of industrialist Anil Ambani, last week. Post his arrest, Pal's ED custody had been extended till October 16 after the central probe agency sought three days of further custodial interrogation.
He is the first senior executive of the Reliance ADA Group to be arrested in the bank guarantee case. Anil Ambani, certain current and past senior executives of his group companies and several bank officials are under investigation by the ED for their alleged involvement in a ₹17,000 crore loan fraud case.
Pal had resigned from his position at the Anil Ambani-led company shortly after being taken into custody.
The Enforcement Directorate arrested Pal, a close aide of industrialist Anil Ambani, last week. Post his arrest, Pal's ED custody had been extended till October 16 after the central probe agency sought three days of further custodial interrogation.
He is the first senior executive of the Reliance ADA Group to be arrested in the bank guarantee case. Anil Ambani, certain current and past senior executives of his group companies and several bank officials are under investigation by the ED for their alleged involvement in a ₹17,000 crore loan fraud case.
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