3 weeks ago
ED arrests insolvency professional Jitesh Gupta in money laundering case
Some grown-ups ran a company called Best Foods Ltd.
and borrowed a lot of money.
Another agency called the CBI found that a person named Dinesh Gupta may have hidden that money using fake companies.
A special police group called the ED investigates people who try to hide dirty money.
The ED arrested a man named Jitesh Gupta and said he helped hide the money.
Jitesh Gupta's job was to look after two companies that could not pay their debts.
He was supposed to check which debts were real and which were fake.
The investigators say he added back fake claims he had earlier rejected, and that changed who made decisions about the companies.
They also say he supported a rescue plan that was secretly controlled by Dinesh Gupta.
A court called the NCLT agreed that Jitesh Gupta had done wrong things.
Now he is in custody while the case continues.
The Directorate of Enforcement (ED) arrested insolvency professional Jitesh Gupta under Section 19 of the PMLA, 2002, in the Best Foods money laundering case.
Gupta was produced before the Special Court (PMLA), which remanded him to ED custody for further investigation.
The probe was initiated on a CBI FIR against M/s Best Foods Ltd. under the Indian Penal Code, 1860, and the Prevention of Corruption Act, 1988.
The ED alleges Gupta re-admitted fraudulent claims he had earlier rejected, altering the composition of the Committee of Creditors.
The NCLT, in its September 9, 2025 order, recorded adverse findings and directed his replacement as Resolution Professional.
- Who
- Jitesh Gupta, an insolvency professional, was arrested by the Directorate of Enforcement (ED); the probe also involves Dinesh Gupta, who controlled M/s Best Foods Ltd.
- What
- Gupta was arrested under Section 19 of the PMLA, 2002, for allegedly facilitating money laundering during the insolvency resolution of companies linked to Best Foods Ltd.
- Where
- New Delhi; the case concerns the CIRP of Homestead Infrastructure Development Pvt. Ltd. and Golden Peacock Residence Pvt. Ltd.
- When
- Wednesday (specific date not stated in the article); the NCLT adverse order was dated September 9, 2025.
- Why
- He allegedly re-admitted fraudulent claims, altered the Committee of Creditors, and facilitated a Resolution Plan fronting for Dinesh Gupta, funded through an entity controlled by him.
Key facts
- Arresting agency
- Directorate of Enforcement (ED)
- Arrested person
- Jitesh Gupta, insolvency professional (IRP/RP)
- Arrest provision
- Section 19 of the Prevention of Money Laundering Act (PMLA), 2002
- Related case
- M/s Best Foods Ltd. money laundering probe
- Basis of probe
- CBI FIR under the Indian Penal Code, 1860, and the Prevention of Corruption Act, 1988
- Companies under CIRP
- Homestead Infrastructure Development Pvt. Ltd. and Golden Peacock Residence Pvt. Ltd.
- NCLT order
- September 9, 2025; adverse findings against Jitesh Gupta; replacement as Resolution Professional directed
- Custody
- Remanded to ED custody by the Special Court (PMLA)







