PMLA Court Takes Cognisance of ED Complaint Against Ex-RCom Director Puneet Garg; Bail Rejected

A special court under the Prevention of Money Laundering Act in Delhi has taken cognisance of an Enforcement Directorate prosecution complaint against former Reliance Communications director Puneet Garg in connection with an alleged Rs 40,000-crore money laundering case linked to the debt-ridden telecom company.

Special Judge Ajay Gupta rejected Garg's bail plea on Monday, June 15, holding that material collected during investigation prima facie pointed to his involvement in the alleged laundering of funds. The court noted that Garg held key managerial and board-level positions in RCom during the relevant period and that allegations against him related to concealment and dissipation of alleged proceeds of crime.

The court observed that Garg failed to demonstrate reasonable grounds to believe he was not guilty of the offence under Section 45 of the PMLA. The matter has been posted for arguments on charge on July 4.