State of Maharashtra vs. Rakesh Wadhawan & Sarang Wadhawan (and others) — PMC Bank Fraud Case

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.

The Punjab and Maharashtra Co-operative (PMC) Bank was placed under an RBI administrator in September 2019 after it was found to have massively under-reported non-performing loans worth over Rs 6,700 crore extended to Housing Development and Infrastructure Ltd (HDIL), constituting approximately 73% of the bank's total advances. The Economic Offences Wing (EOW) of Mumbai Police arrested HDIL promoters Rakesh Wadhawan and Sarang Wadhawan, booking them under multiple IPC sections — the Enforcement Directorate subsequently filed a money laundering case against them under the Prevention of Money Laundering Act (PMLA). As of April 2024, the Bombay High Court granted bail to both Rakesh and Sarang Wadhawan, while criminal trial proceedings and ED/PMLA matters remain active before courts in Maharashtra. Both the accused are presumed innocent unless and until convicted by a competent court.

The Supreme Court registered a suo motu case in October 2025 after a senior citizen couple from Haryana reported being defrauded of Rs 1.5 crore in a digital arrest scam. The Court issued 13-point directions to combat such scams nationwide, recognizing this as a widespread issue affecting multiple states and directing RBI, banks, and state authorities to implement urgent SOPs and cybercrime coordination mechanisms.

The ED filed a supplementary chargesheet against Reliance Communications Limited before a special court at Rouse Avenue. The case relates to alleged financial fraud involving the company.

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.

The CBI registered an FIR in July 2022 alleging that Delhi's Excise Policy 2021-22 was manipulated to facilitate monopolisation and cartelisation of the liquor trade, with AAP leaders allegedly receiving kickbacks from liquor manufacturers. The Enforcement Directorate (ED) separately registered a money laundering case under PMLA. On 27 February 2026, the Rouse Avenue Special Court (PC Act) discharged all 23 accused — including former Delhi CM Arvind Kejriwal and former Deputy CM Manish Sisodia — holding that no prima facie case was made out and criticising the CBI's investigation. The CBI has since challenged the discharge order before the Delhi High Court — that revision is currently being heard by Justice Manoj Jain after Justice Swarana Kanta Sharma withdrew following contempt proceedings she had initiated against the accused. A parallel ED/PMLA case remains active at the Rouse Avenue Court, the hearing of which was directed to be deferred pending the High Court's disposal of the CBI revision.