ED makes first arrest in ₹3,000-crore loan fraud case against Anil Ambani

Partha Sarathi Biswal, was taken into custody under the provisions of the PMLA 2002

The Directorate of Enforcement (ED) on Saturday has made its first arrest in ₹3,000-crore loan fraud case against Anil Ambani, according to a report by India Today. Managing Director of Biswal Tradelink Pvt Ltd (BTPL), Partha Sarathi Biswal, was taken into custody under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.

 

The ED has uncovered that BTPL allegedly received ₹5.4 crore from Reliance Power Ltd—a company owned by Anil Ambani—for facilitating the fake bank guarantee. This financial trail, officials say, is a key element linking BTPL’s fraudulent operations to Ambani’s corporate network

 

The arrest was made a day after ED had issued a lookout notice against Anil Ambani in connection with the case. 

 

 

According to a report published in Business Standard, a source revealed that Anil Ambani is not permitted to leave India without prior approval from the investigating officer. If he attempts to travel abroad, he could be detained at airports or seaports.

 

The agency has already summoned the Reliance group chairman for questioning on August 5 in a money-laundering case — linked to alleged bank loan fraud worth crores of rupees — against his group companies, the report further added.