New Delhi [India], June 15 : The Rouse Avenue Court took cognisance of the charge sheet filed against Former Reliance Communications (RCom) Director Punit Narendra Garg and other accused.
The Court has dismissed the bail plea of Punit Narendra Garg. His earlier interim bail plea on medical grounds was rejected in April.
He is an accused in an alleged money laundering case of Rs 40,000 crores. He has been charge-sheeted by the ED. He was arrested by the ED on January 29.
Special judge Ajay Gupta took cognisance of the prosecution complaint (Charge sheet) filed by the Enforcement Directorate (ED).
The Court has listed the matter for hearing arguements on the charge on July 4. The Court said that the detailed order will be uploaded on the website.
The court has dismissed the bail plea of Punit Narendra Garg. Earlier, he sought interim bail on medical grounds
On April 20, the court denied granting interim bail to Punit Garg, the former Director of Reliance Communications (RCom) Ltd., on medical grounds.
He had sought interim bail to undergo some medical examination and treatment at a private hospital. Before his arrest, he was treated at Kokilaben Dhirubhai Ambani Hospital in Mumbai. It was argued that he was advised for intensive examination and capsule endoscopy.
While rejecting the interim bail plea, the Special Judge Ajay Gupta had considered the report filed by the medical board constituted at All India Institute of Medical Sciences (AIIMS).
The court earlier had observed, "Thus, in view of the reports given by the Medical Board of AIIMS, it is clear that at this stage, the applicant is not required to undergo the medical test, however, in case, same would be required, then in that case, the accused would be taken to the concerned Government Hospital as per the afore mentioned jail referral policy,"
"Keeping in view of the aforesaid facts and circumstances, this court does not find any merit in the aforesaid prayer of the applicant seeking permission to undergo the capsule endoscopy test at the private hospitals. Consequently, the present application is liable to be dismissed; accordingly, the same is hereby dismissed," Special Judge Ajay Gupta ordered on April 20.
It was stated that applicant is a 61 year old senior citizen, who is suffering from multiple serious and incurable medical conditions which includes inflammatory bowel disease -Crohn's Colitis (a life threatening and irreversible condition that may lead to serious complications including colon cancer and blood clots), irreversible and degenerative osteoporosis in the lumbar spine, osteopenia in his femoral neck and left forearm, hypertension since 2018, an enlarged prostate with progressive gross obstructive voiding, arthritis and adjustment disorder with requires constant specialised medical hich and regular follow-ups with multiple specialists.
It was further stated that medical facilities within jail are inadequate to addr these comple conditions and is in immediate need of hospitalization for comprehensive medical facilities in jail are inadequate to treat him.
After registering the ECIR on the basis of FIR of the CBI, the ED had arrested Punit Garg. Initially, the ED had remanded Punit Narendra Garg for 9 days for investigation to trace the remaining Proceeds of Crime, identify other beneficiaries, and uncover the complete money-laundering trail. After ED's interrogation, Garg was sent to Judicial custody.
Directorate of Enforcement (ED), Special Task Force, arrested Punit Garg, under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, in connection with an ongoing investigation relating to over Rs 40,000 Crore bank fraud and money laundering by RCOM and its group entities.
The arrest was made pursuant to an investigation initiated based on CBI's FIR of 21.08.2025 for offences under Sections 120-B, 406 and 420 of the Indian Penal Code, 1860, and Sections 13(2) read with section 13(1)(d) of the Prevention of Corruption Act, 1989.
Punit Garg served as President of RCOM, handling the Global Enterprise Business of RCOM from 2006 to 2013. Thereafter, he served as President (Regulatory Affairs) from 2014 to 2017, the ED said.
Subsequently, in October 2017, he was appointed as Executive Director of RCOM. Thereafter, from April 2019 till April 2025, he served as non-Executive Director of RCOM, it added.
ED investigation has revealed that Punit Garg, while holding senior managerial and directorial positions in RCOM over an extended period from 2001 to 2025, was actively involved in the acquisition, possession, concealment, layering, and dissipation of Proceeds of Crime generated from the said bank fraud.
ED has said that it has been found that Proceeds of Crime were diverted through multiple foreign subsidiaries and offshore entities of RCOM. In particular, it was found that Proceeds of Crime were diverted for the purchase of a luxury condominium apartment in Manhattan, New York, United States of America (USA).
ED alleged that this property was sold during the Corporate Insolvency Resolution Process (CIRP) of RCOM fraudulently by Punit Garg. The sale proceeds of US$ 8.3 million were remitted from the USA under the guise of a sham investment arrangement with a Dubai-based entity controlled by a Pakistan-linked individual, without the knowledge or consent of the Resolution Professional.
The investigation has further revealed that part of the Proceeds of Crime, public money taken by RCOM as bank loans, was diverted for Punit Garg's personal expenses, including overseas education-related payments of his children, the ED said.