World · India Bureau
ED arrests Sadhna Group chairman in money laundering investigation
Rakesh Kumar Gupta, chairman of the Sadhna Group, has been taken into custody by the Enforcement Directorate on allegations of money laundering. The arrest follows an investigation into suspected financial irregularities linked to the business conglomerate.
LSN India ·
The Enforcement Directorate arrested Rakesh Kumar Gupta, chairman of the Sadhna Group, on Friday as part of an ongoing money laundering probe. Gupta was taken into custody under provisions of the Prevention of Money Laundering Act (PMLA), according to officials familiar with the matter.
The arrest marks an escalation in the agency's investigation into suspected illicit financial flows allegedly connected to the Sadhna Group's operations. The ED has been examining the conglomerate's transactions as part of its efforts to trace and recover proceeds of crime.
Details regarding the specific allegations and the scope of the investigation remain limited at this stage. The Enforcement Directorate is expected to present its findings before a designated court in due course, where it will seek further custody or judicial remand as warranted by the investigation.
The Sadhna Group, which operates across multiple sectors, has not yet issued an official statement regarding the arrest of its chairman.