New Delhi, Apr 15 (PTI) The Enforcement Directorate on Wednesday arrested Amitabh Jhunjhunwala and Amit Bapna, both former senior executives at industrialist Anil Ambani-led Reliance Group, in an alleged bank loan fraud and money laundering case, officials said.

The two were taken into custody under the Prevention of Money Laundering Act (PMLA) after questioning. The agency produced them before a court seeking their custody for detailed interrogation, they said.

Jhunjhunwala was a vice chairman and director of Reliance Capital Ltd, the parent company of RHFL and RCFL. He is considered a close aide of Ambani.

Bapna served as a director of RHFL.

The probe pertains to an alleged bank loan fraud worth crores of rupees perpetrated through Anil Ambani group companies like Reliance Home Finance Limited (RHFL) and Reliance Commercial Finance Ltd (RHFL) using shell or dummy companies.

The money laundering case of the ED stems from FIRs filed by the Central Bureau of Investigation. PTI NES VN VN

Money laundering probe over alleged bank loan fraud and shell companies leads to arrests of former Reliance Group executives. Enforcement Directorate action under the Prevention of Money Laundering Act in an alleged bank loan fraud investigation involving former senior executives of Anil Ambani-led Reliance Group companies. The case concerns alleged diversion of bank funds through Reliance Home Finance Ltd. and Reliance Commercial Finance Ltd. using shell or dummy entities, with the money laundering probe stated to stem from FIRs lodged by the Central Bureau of Investigation.