New Delhi [India], August 18 : Delhi's Tis Hazari court on Monday remanded Sandeepa Virk to judicial custody till September 1. She was produced before the court after 4 days of custody by the Directorate of Enforcement (ED). She was arrested on August 12.
Additional Sessions Judge (ASJ) Vijay Shankar remanded Sandeep Virk in judicial custody after ED's interrogation.
Special Public Prosecutor (SPP) Simon Benjamin appeared for ED and prayed to send the accused to judicial custody. He submitted that an investigation is going on, and they will seek Virk's further custody if required.
On the other hand, advocate Rajeev Chhetri and Rajesh Chetri appeared for Sandeepa Virk.
As per ED, the investigation revealed that Virk has acquired immovable property in her name by making false promises and cheating. She claims to be the owner of hyboocare.com, a website purportedly selling FDA-approved beauty products.
However, the products listed on the site have been found to be non-existent, the ED alleged.
ED had conducted search operations on August 12 and 13, 2025, at multiple locations in Delhi and Mumbai under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.
These operations are part of an ongoing investigation into Sandeepa Virk and her associates, who are alleged to have exerted undue influence through misrepresentation and defrauded individuals by soliciting money under false pretences.
ED initiated an investigation on the basis of an FIR registered by Police Station Phase-8, SAS Nagar, Punjab, under Sections 406 and 420 of the Indian Penal Code, 1860, the agency said in a statement.
The ED stated that the website lacked a user registration option and was plagued by persistent payment gateway issues. Scrutiny of the website uncovered minimal social media engagement, an inactive WhatsApp contact number, and an absence of transparent organisational details, all of which reinforce the finding of non-genuine commercial activity.
These factors, including a limited product range, inflated pricing, false claims of FDA approval, and technical inconsistencies, indicate that the website serves as a front for laundering funds and ED claims.
The agency has stated that one of the people with whom Sandeepa Virk was in regular touch is Angarai Natarajan Sethuraman, Former Director of erstwhile Reliance Capital Limited, with whom she had been communicating regarding illegal liaison work.
It is further stated that a search at Sethuraman's residence has confirmed the same. Besides, diversion of funds for personal benefit has also been unearthed during the course of such search action.
In 2018, public money of approximately Rs 18 crore belonging to Reliance Commercial Finance Ltd (RCFL) was disbursed to Sethuraman by flouting prudent lending norms.
The funds were lent under terms that allowed deferment of principal as well as interest, with multiple waivers granted and no due diligence conducted, the agency has claimed.
Besides, a home loan of Rs 22 crore was provided by Reliance Capital Limited, violating the prudential norms. A large part of these loans is seen to have been eventually siphoned off and remained unpaid, the statement said.
ED has said that during the search operation, several incriminating documents and records were seized, and statements of key persons and associates, including Farrukh Ali, have been recorded. Further, Sandeepa Virk had been arrested on 12.08.2025 under the provisions of PMLA.
She was produced before the Tis Hazari Court, which has granted custody to ED till August 14, 2025, for further investigation.
On August 14, Angarai Sethuraman, on Thursday, issued a statement on the allegations levelled by the ED and said, "These allegations are entirely baseless." He firmly denied any connection or involvement with Sandeepa Virk or any transactions related to her.
He also clarified that the home loan he received from Reliance Capital was granted following due process and was secured by the property offered as collateral.