RCom money laundering: Ex-officer Gautam Doshi sent to judicial custody

Gautam Bhailal Doshi, a former senior officer of RCom, has been remanded in judicial custody until July 1 by the Rouse Avenue Court. He was arrested by the ED in connection with an alleged money laundering case involving the Reliance ADA Group.

Doshi Remanded in Judicial Custody

The Rouse Avenue Court remanded Gautam Bhailal Doshi in judicial custody till July 1. The ED informed the court on Thursday that Doshi was produced before the vacation court on Wednesday and has been remanded in judicial custody. As per the last order, he was to be produced before the court today. He has been arrested in arrested in Reliance Communications (RCom) alleged money laundering case. He is a former senior officer of RCom.

Earlier, he was produced at the residence of the vacation judge in the morning at around 8 AM and was remanded in 5 days ED custody on June 13. Special Public Prosecutor (SPP) for ED appeared through video conferencing and informed the vacation judge Rajesh Malik. Thereafter, the court sent the file to the concerned court.

He has been arrested in the Reliance Communications (RCom) alleged money laundering case. He is a former director of Reliance Telecom. He was produced at the residence of the vacation judge in the morning at around 8 AM. Vacation Judge Gaurav Rao had remanded Gautam Bhailal Doshi in 5 days ED custody after hearing the counsel for ED and the accused.

He functioned as one of the Group Managing Directors of the Reliance ADA Group, and was a Director of Reliance Telecom Limited After producing accused before the judge, the ED had moved an application seeking 14 days custody remand of the accused. The court had granted custody of Doshi after considering the submissions of ED, the nature of the allegations, and to unearth the complete conspiracy as well as establish the complete fund trail, their recovery, role of other individuals involved. " I deem it fit to grant 5 days custody of the accused to the ED. Accordingly, the accused is remanded to the custody of ED for 5 days, and he is to be June 18, 2026, at or before 04.00 p.m. before the Vacation Judge, Rouse Avenue District Courts, New Delhi," the Vacation Judge ordered on June 13.

Allegations of Fund Diversion and Misappropriation

It is alleged against Gautam Bhailal Doshi that he occupied a position of substantial authority and control within the Reliance ADA Group and was deeply associated with its financial, corporate and offshore operations. The investigation has revealed that he functioned as one of the Group Managing Directors of the Reliance ADA Group, was a Director of Reliance Telecom Limited during the relevant period, was a member of its Audit Committee, exercised banking authority over 161 bank accounts maintained by 105 group entities, and was entrusted with responsibilities relating to overseas financing arrangements, FCCB issuances, foreign bank accounts and offshore corporate structures.

The court had noted that the material collected during the investigation establishes his active involvement in the management, supervision and control of the financial framework through which funds were raised, routed and deployed across domestic and overseas entities.

As per the ED, the Primary allegations are that the credit facilities availed by RCOM, M/s Reliance Telecom Ltd. and M/s Reliance Infratel Ltd., together with the group, are referred to as the Reliance Anil Dheerajlal Ambani Group (RAAG) from a consortium of banks, through multiple banking arrangements by misrepresentation and deception.

It is further alleged that after disbursal of the said facilities, the bank funds were misappropriated by entering into transactions which were in violation of the terms and conditions of the sanction of the credit facilities. The ED also alleged that RAAG undertook credit facilities from non-consortium banks during the same period, which comprises a set of interconnected transactions, as the credit facilities taken from consortium banks have been used for payments of non-consortium credit facilities as well.

It is alleged that the total outstanding amounts from the consortium banks, as well as the non-consortium banks, which constitute proceeds of crime, are approximately Rs 40,000 crores. The investigation so far has established a fund trail showing diversion of loan funds from RAAG to foreign remittances, foreign banks and offshore companies. The funds so availed from certain banks were not utilised for the intended purpose but were invested in mutual funds and transferred to group companies. These are detailed in the application seeking remand.

Investigation Reveals Active Involvement

The court had noted in the order the evidence collected during investigation, including the email dated 21.09.2012 enclosing "Company Details.xls", board records, audit committee records, financial statements, banking records and statements recorded under Section 50 of the PMLA, demonstrates that the accused was not a passive or nominal functionary but occupied a position from which he exercised significant influence and control over group entities, banking arrangements and offshore structures. The material further reveals that information relating to Indian and offshore entities, shareholding structures, banking arrangements and financial operations was regularly escalated to him and operated under his supervision.

ED Justifies Need for Custodial Interrogation

While seeking remand the ED had said that custodial interrogation of the accused is necessary to ascertain the complete conspiracy behind the diversion and layering of loan funds; determine the decision-making process relating to the creation and operation of intermediary and offshore entities; identify the ultimate beneficiaries of the diverted funds; confront him with seized emails, electronic records, financial documents and witness statements; and trace further domestic and overseas assets acquired, held or controlled from proceeds of crime.

The agency further said that his custodial interrogation is also essential to uncover the complete mechanism adopted for acquisition, possession, concealment, layering, routing and dissipation of proceeds of crime.

Defense Opposes Custody

The counsel for the accused had opposed the remand application and submitted that from ED's application, it is evident that the accused has been cooperating throughout the investigation, and since the recording of his statement under Section 50 of the PMLA on January 27, 2026, there is no allegation against him of having done anything prejudicing the investigation. It was also submitted that, considering his age, he being around 74 years old, as well as the medical ailments from which he is suffering, he may not be remanded to custody for 14 days as sought by ED. (ANI)

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