The Enforcement Directorate (ED) conducted coordinated raids at 10 to 12 locations in Mumbai associated with industrialist Anil Ambani. Approximately 15 specialized ED units initiated the searches at registered offices and residential premises of individuals linked to the power utility company. Reliance Power clarified that no searches were conducted at any of its offices or premises, refuting media reports.
The financial regulator is investigating multiple companies connected to Anil Ambani for alleged bank fraud-related money laundering and financial irregularities under the Foreign Exchange Management Act (FEMA). Anil Ambani has been questioned twice by the ED under the Prevention of Money Laundering Act in relation to the probe. The ED provisionally attached Anil Ambani’s posh Pali Hill residential property worth Rs 3,716.83 crore in a bank fraud case involving Reliance Communications Ltd.
The Enforcement Directorate’s Special Task Force provisionally attached the Pali Hill residential property under the Prevention of Money Laundering Act, with part of the property previously attached to the extent of Rs 473.17 crore. Additionally, the Central Bureau of Investigation (CBI) conducted searches at Anil Ambani’s residences and Reliance Communications offices after registering a case against the company for offenses including conspiracy, cheating, and criminal misconduct.
