ED Arrests Former RCom Director Punit Garg
The Enforcement Directorate (ED) recently arrested Punit Garg, a former director of Reliance Communications Limited (RCom). This action follows a significant investigation into a suspected bank fraud and money laundering case exceeding ₹40,000 crore.
Details of the Arrest
Punit Garg was apprehended on January 29, 2026, as part of the ED’s ongoing probe related to a First Information Report filed by the Central Bureau of Investigation. Following his arrest, Garg was presented before a special court in Delhi, which ordered a nine-day remand.
Career Overview of Punit Garg
Garg has held several key positions at RCom, including:
- President of Global Enterprise Business (2006-2013).
- President of Regulatory Affairs (2014-2017).
- Executive Director (October 2017).
- Non-executive Director (April 2019 – April 2025).
Allegations Against Punit Garg
The ED accused Garg of playing a crucial role in the acquisition and mishandling of what they describe as “proceeds of crime.” This financial misconduct allegedly involved foreign subsidiaries and offshore entities associated with RCom.
Particularly, Garg is implicated in the purchase of a luxury apartment in Manhattan, New York. It was reported that he fraudulently sold this property during the Corporate Insolvency Resolution Process of RCom. The sale generated proceeds of approximately $8.3 million, allegedly transferred under the pretext of a fictitious investment arrangement with a Dubai-based firm linked to an individual from Pakistan.
Misuse of Funds
Additionally, the ED claims Garg diverted these funds for personal expenses, which included the overseas education of his children.
The investigation continues as authorities seek to unravel the full extent of the alleged financial fraud involving Punit Garg and RCom.
