The Enforcement Directorate on Wednesday arrested Amitabh Jhunjhunwala and Amit Bapna, both former senior executives of the Reliance Group, in connection with an alleged bank loan fraud and money laundering case.
The two were taken into custody under the Prevention of Money Laundering Act after being questioned by the agency.
Officials said they were later produced before a court, where the ED sought their custody for detailed interrogation.
Jhunjhunwala had served as vice chairman and director of Reliance Capital Ltd, the parent company of RHFL and RCFL, and is considered a close aide of Anil Ambani.
Bapna served as a director of RHFL.
The probe pertains to an alleged bank loan fraud worth crores of rupees perpetrated through Anil Ambani group companies like Reliance Home Finance Limited (RHFL) and Reliance Commercial Finance Ltd (RHFL) using shell or dummy companies.
The money laundering case of the ED stems from FIRs filed by the Central Bureau of Investigation.
(With inputs from PTI)