Enforcement Directorate vs Jyoti Power Corporation — Bank fraud case

The ED filed a prosecution complaint against Reliance Infrastructure Limited and former Reliance Group executive Sateesh Seth (70) in a Prevention of Money Laundering Act case. Seth was arrested by the ED in June 2025 and remains in judicial custody. The case was filed before a special PMLA court in Dwarka.

Nirav Modi and his uncle Mehul Choksi are accused of orchestrating a massive fraud at Punjab National Bank's Brady House Branch in Mumbai by allegedly obtaining fraudulent Letters of Undertaking (LoUs) without following due process, causing losses estimated between ₹13,000–14,500 crore to the bank. The CBI registered an FIR and has filed multiple chargesheets before a Special CBI Court in Mumbai — the ED has conducted parallel PMLA proceedings and attached assets worth over ₹18,000 crore. Both primary accused remain at large outside India: Nirav Modi is held in UK custody pending extradition, and Mehul Choksi was arrested in Belgium in 2025 with an Antwerp appellate court having cleared his extradition to India. The domestic trial before the Special CBI Court in Mumbai is ongoing, with supplementary chargesheets continuing to be filed as recently as March 2025.

Multi-crore Punjab and Maharashtra Cooperative (PMC) Bank fraud involving Housing Development and Infrastructure Limited (HDIL) promoters Rakesh Wadhawan and Sarang Wadhawan. The bank had loaned approximately 70% of its deposits to HDIL in violation of RBI guidelines, resulting in massive loan defaults. Accused face charges under IPC sections and the Prevention of Money Laundering Act. The case involves parallel investigations by Mumbai Police Economic Offences Wing and Enforcement Directorate.