ED Arrests Sadhna Group Chairman in Insolvency-Linked Money Laundering Case
What Happened
The Enforcement Directorate (ED) has arrested Rakesh Kumar Gupta, chairman of Sadhna Group, in a money laundering case linked to alleged irregularities in insolvency proceedings involving Sadhna Media. The investigation stems from a Delhi Police Economic Offences Wing FIR alleging misuse of the Insolvency and Bankruptcy Code (IBC), and a court has remanded him to five days of ED custody.
Key Takeaways
According to the ED, the case involves alleged financial irregularities tied to insolvency proceedings, with suspected proceeds of crime estimated at about ₹168 crore. The allegations are under investigation and the court has allowed custodial interrogation.