Ex-RCom Official Gautam Doshi Remanded in ₹40,000-Crore Money Laundering Case

A Delhi court on Thursday remanded former Reliance Communications (RCom) senior executive Gautam Bhailal Doshi to judicial custody till July 1 in connection with a money laundering investigation involving the alleged diversion of loan funds worth over ₹40,000 crore .

Vacation Judge Rajesh Malik passed the order after Doshi was produced before the court following the completion of five days of Enforcement Directorate (ED) custody granted on June 13.

Doshi was arrested by the Enforcement Directorate (ED) under the provisions of the Prevention of Money Laundering Act (PMLA) and brought to Delhi from Mumbai on transit remand as part of the agency's ongoing investigation.

According to the ED, its probe has uncovered an alleged fund trail involving the diversion of loan funds from entities linked to the Reliance ADA Group through foreign remittances, offshore companies and overseas bank accounts. The agency claims that loans obtained from banks were not used for their intended purposes and were instead invested in mutual funds and transferred to various group companies.

The ED has alleged that Doshi held a position of significant authority within the Reliance ADA Group and was closely involved in its financial, corporate and offshore operations. Investigators told the court that he functioned as one of the group's managing directors, served as a director of Reliance Telecom Ltd during the relevant period and was also a member of the company's audit committee.

The agency is currently examining the alleged diversion and layering of loan funds exceeding ₹40,000 crore . The investigation remains ongoing, and further proceedings in the case are awaited.