Fraud cuffs on former RCOM president Punit Garg in Rs 40,000-crore bank scam

The Enforcement Directorate has arrested former Reliance Communications (RCOM) president Punit Garg on money laundering charges in connection with its ongoing probe into the alleged ₹40,000-crore bank loan fraud involving the group companies of industrialist Anil Ambani.

Garg was taken into custody on Thursday and a Delhi court sent him to nine days’ ED custody, the agency said in a statement on Friday.