New Delhi, June 15: A special court located at Rouse Avenue in New Delhi has taken cognizance of a prosecution complaint filed by the Enforcement Directorate (ED) against Reliance Communications Limited and others under the Prevention of Money Laundering Act, 2002.
On March 27, the ED submitted a complaint to the special court regarding money laundering activities involving Reliance Communications Limited, along with individuals Puneet Garg and Vaishali Mane. Notably, Puneet Garg, a former director of Reliance Communications, was arrested by the ED on January 29, 2026, and remains in judicial custody.
The ED’s investigation was initiated based on a First Information Report (FIR) registered by the Central Bureau of Investigation (CBI) on August 21, 2025. Puneet Garg served as the president of Reliance Communications’ Global Enterprise Business from 2006 to 2013 and later held the position of president for regulatory affairs from 2014 to 2017. He was appointed as the executive director of Reliance Communications in October 2017 and served as a non-executive director from April 2019 to April 2025.
The ED’s investigation revealed that Garg was actively involved in acquiring, concealing, layering, and transferring illegal earnings obtained through bank fraud while holding senior managerial and director positions at Reliance Communications from 2001 to 2025.
The inquiry found that these illicit earnings were funneled through various foreign subsidiaries and offshore companies. These funds were used to purchase a luxury yacht named ‘Tian,’ bought by a company in Jersey (UK), and to acquire a luxury condominium apartment in Manhattan, New York (USA).
During the Corporate Insolvency Resolution Process (CIRP) of Reliance Group companies, these assets were secretly and fraudulently sold. Instead of returning the proceeds to rightful claimants, the funds were misappropriated. The special court at Rouse Avenue in New Delhi acknowledged the prosecution complaint on Monday.
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