Enforcement Directorate officials have arrested Sadhna Group chairman and managing director Rakesh Gupta in a ₹168 crore money-laundering probe in Delhi. Gupta, 63, was taken into custody late on October 9 from Ishwar Farms in Vasant Kunj and produced before a court in the early hours of October 10. A Delhi court remanded him to five days of ED custody, ordering him to be produced again by 4 PM on October 15. The ED case is built on a Delhi Police Economic Offences Wing FIR filed on September 29, which includes allegations of cheating and criminal breach of trust. ED alleges Gupta engineered the insolvency of Sadhna Media Pvt Ltd through related creditors that together controlled 99.41% of the committee of creditors. Investigators say the setup allowed income tax dues of ₹110.10 crore to be settled for just ₹20 lakh, raising questions about whether the insolvency process was used to benefit promoter-linked entities at the expense of legitimate creditors. The agency also claims that after the resale of Sadhna Media, also known as Aryan TV, cash payments of about ₹2.50 crore to ₹2.82 crore were received through USDT and hawala channels. It further alleges Sadhna Media paid ₹4.48 crore to connected creditors, including nearly ₹2.99 crore routed to Sharpline Broadcast Ltd, a company linked to Gupta. Investigators are trying to trace the cash flows and understand how the crypto and hawala settlements were structured. ED is also using a final Securities and Exchange Board of India order from May 2025 involving Sadhna Broadcast Ltd, where Gupta was identified as the alleged mastermind behind share manipulation and held jointly and severally liable for about ₹58 crore. The allegations are still under investigation and subject to court proceedings. During the custody application, ED asked for more time to trace several financial entries and transactions, including nearly ₹2.99 crore routed to Sharpline Broadcast and ₹8.98 crore shown as payable to Saroj Construction and Graphisads without a corresponding bank trail. ED also plans to examine data from a seized iPhone 13 Pro and iPad Pro and confront Gupta with statements recorded from other individuals on October 9. Latest status: Rakesh Gupta remains in ED custody for five days after being remanded by a Delhi court, with his next court production set for October 15.