Probe Agency Executes First Arrest in Rs 3,000-Crore Anil Ambani Loan Fraud Case

Making its first arrest in connection with the Rs 3,000-crore loan fraud case against companies of Anil Ambani's Reliance Group, the Enforcement Directorate has taken the managing director of a company into custody for submitting fake guarantees worth Rs 68.2 crore, sources said on Saturday. These guarantees, they said, were arranged on behalf of Reliance Power.

Partha Sarathi Biswal, managing director of Biswal Tradelink Pvt Ltd, was arrested on Friday under the Prevention of Money Laundering Act (PMLA), 2002.