ED arrests former CFO of Apollo Green Energy Ltd.
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📌 Summary:
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The Enforcement Directorate (ED) arrested Rakesh Gupta, former Chief Financial Officer and president (strategic initiatives) of Apollo Green Energy Ltd. (earlier Apollo International Ltd.), announced July 7, 2026
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The arrest is linked to an ongoing money-laundering investigation involving "strongman" Inderjeet Singh and others
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The case illustrates ED's enforcement role in tracing proceeds of crime in the corporate sector under the PMLA framework
🎯 UPSC Relevance: GS3 Internal Security — money laundering and enforcement machinery (ED, PMLA); GS2 — functioning of statutory enforcement bodies
📝 Prelims Facts:
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ED (Enforcement Directorate) enforces the Prevention of Money Laundering Act (PMLA), 2002 and FEMA, 1999
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ED functions under the Department of Revenue, Ministry of Finance
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Arrested: Rakesh Gupta, ex-CFO, Apollo Green Energy Ltd. (formerly Apollo International Ltd.)
🔑 Key Term: PMLA, 2002 — law empowering the ED to investigate, attach and prosecute offences of laundering proceeds of crime.
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