Overview

• Sandeepa Virk was remanded to ED custody until August 14 following coordinated raids in Delhi and Mumbai that yielded incriminating documents and recorded statements from key associates.
• Investigators allege hyboocare.com lacked user registration, functional payment gateways and transparent operations, serving as a front for laundering proceeds from fake ‘FDA-approved’ beauty-product sales.
• The agency claims Virk maintained illegal liaison with ex-Reliance Capital director Angarai Natarajan Sethuraman, while searches at his residence uncovered evidence of suspect Rs 18 crore loan disbursements and fund diversions.
• Sethuraman has denied all charges, stating that his loans were granted with due process, secured by collateral and that he had no involvement with Virk’s activities.
• ED officials say Virk’s arrest now forms part of a second phase in a broader inquiry into alleged Rs 20,000 crore loan irregularities across Reliance-linked entities.