Former Reliance Anil Ambani Group MD Sateesh Seth Remanded to Judicial Custody
Former Reliance Anil Ambani Group MD Sateesh Seth has been remanded to 14 days of judicial custody. The ED is investigating him for alleged money laundering and the siphoning of Rs 92 crore in public funds through a complex hawala network involving shell companies.
Highlights
- •Former Reliance Anil Ambani Group MD Sateesh Seth sent to 14-day judicial custody.
- •ED is investigating a money laundering case involving hawala funds and fictitious invoices.
- •The case alleges Rs 92 crore in public funds were siphoned from NHAI road projects.
- •The investigation centers on the misuse of shell companies for illegal overseas fund transfers.
A Delhi court has officially ordered Sateesh Seth, the former managing director of the Reliance Anil Ambani Group (RAAG), to remain in judicial custody for 14 days. This legal development follows ongoing investigations into a significant money laundering case involving hawala transactions. The presiding vacation judge, Rashmi Gupta, confirmed that the former executive will be held until July 2 after completing his initial custodial interrogation by the Enforcement Directorate (ED).
The court proceedings marked the conclusion of a six-day period of ED custody that had been previously granted to investigators on June 14. During the court appearance, the judge permitted Sateesh Seth to retain access to necessary medical items and eyeglasses while incarcerated. Additionally, the court directed jail administration officials to evaluate his request for a bed, ensuring such decisions comply with established jail manual regulations.
Understanding the Money Laundering Case Allegations
The investigation centers on serious allegations regarding the illicit transfer of funds abroad using hawala channels. According to authorities, the scheme involved the creation of fictitious invoices designed to facilitate the export of funds under the guise of overvalued diamond imports. The Enforcement Directorate has identified Reliance Infrastructure Ltd. as a primary beneficiary in this sophisticated financial fraud.
Investigators allege that the fraud led to the diversion of public resources specifically earmarked for two major National Highways Authority of India (NHAI) road projects: the Trichi-Karur toll road project and the Jaipur-Reengus toll road project. Documents and findings suggest that the corporate entities involved utilized a network of shell companies to facilitate these unauthorized transfers. The ED estimates that approximately Rs 92 crore in public funds were siphoned off through these illicit activities.
This high-stakes probe stems from an Enforcement Case Information Report (ECIR), which the ED registered following an initial police complaint filed in Mumbai in February 2026. Prior to this recent order for 14 days of judicial custody, the court had emphasized that a sustained and thorough interrogation of the former director was critical given the gravity of the accusations and his perceived role in the financial irregularities. The ongoing investigation continues to probe the deeper connections within this alleged money laundering syndicate.
