The Enforcement Directorate (ED) provisionally attaches fresh assets worth about ₹1,021 crore in connection with its money laundering investigation involving the Reliance Anil Ambani Group. Multiple outlets report that the ED issues a provisional attachment order under the Prevention of Money Laundering Act (PMLA). The attached assets include equity shares of Reliance Power held by Reliance Infrastructure, and loan receivables from Sasan Power and Reliance Power. The ED’s action follows an investigation that is traced to a CBI FIR naming Reliance Home Finance Limited (RHFL) and Reliance Commercial Finance Limited (RCFL). According to the ED, public funds raised by RHFL and RCFL amounting to ₹15,548 crore were allegedly diverted through a network of shell or dummy entities and group companies controlled and managed by the Reliance Anil Ambani Group. The ED says it is examining multiple cases linked to the group under the PMLA and the Foreign Exchange Management Act (FEMA). It reports that cumulative asset attachments in PMLA-linked cases have reached about ₹20,367 crore, and properties attached under FEMA are valued at about ₹77.86 crore. The group has denied wrongdoing and said it is cooperating with agencies.
ED provisionally attaches assets worth ₹1,021 crore in Reliance Anil Ambani money laundering probe
The Enforcement Directorate (ED) provisionally attaches fresh assets worth about ₹1,021 crore in connection with its money laundering investigation involving the Reliance Anil Ambani Group. Multiple o...
- The ED provisionally attaches assets worth about ₹1,021 crore under the PMLA in a Reliance Anil Ambani Group money laundering probe.
- The attachments include Reliance Power equity shares held by Reliance Infrastructure and loan receivables from Sasan Power and Reliance Power.
- The investigation is linked to CBI FIRs involving Reliance Home Finance Limited (RHFL) and Reliance Commercial Finance Limited (RCFL).
- The ED alleges ₹15,548 crore of public funds raised by RHFL and RCFL were systematically diverted through shell/dummy entities and group companies.
- Cumulative ED attachments reported include about ₹20,367 crore under PMLA-linked cases and about ₹77.86 crore under FEMA-related actions.
Mumbai: The Enforcement Directorate (ED) has provisionally attached fresh assets worth Rs1,021 crore in connection with its money laundering investigation into the alleged diversion of public funds and financial irregularities involving Reliance Home Finance Limited (RHFL) and Reliance Commercial Finance Limited (RCFL), taking the total value of assets attached in cases linked to the Anil Dirubhai Ambani Group(ADAG) to Rs 20,367 crore, the central agency said on Saturday The latest attachment, carried out under the Prevention of Money Laundering Act (PMLA), includes equity shares of Reliance Power Limited held by Reliance Infrastructure Limited, as well as loan receivables from Sasan Power Limited and Reliance Power Limited. The latest attachment comes days after the ED conducted searches at the premises of E-Complex Private Limited, a company allegedly linked to ADAG , and the residence of one of its directors on July 7. During the searches, investigators claimed to have seized documents relating to immovable properties, financial records and material allegedly indicating beneficial ownership and control of shell companies by the group's senior management. The money laundering investigation originates from multiple FIRs registered by the Central Bureau of Investigation (CBI) following complaints filed by several public and private sector banks.Mumbai: NCLT Admits Insolvency Proceedings Against Anil Ambani Over ₹853.25 Crore SBI Loan Default As Personal Guarantor The agency alleged that its investigation has so far revealed that public funds amounting to Rs 15,548 crore, raised by RHFL and RCFL, were systematically diverted through a network of shell entities and group companies allegedly controlled and managed by the Reliance Anil Ambani Group. The ED said it is currently investigating multiple cases involving the Reliance Anil Ambani Group under the provisions of the PMLA and the Foreign Exchange Management Act (FEMA). So far, the agency has registered four Enforcement Case Information Reports (ECIRs) under the PMLA and three cases under FEMA. According to the agency, it has registered four Enforcement Case Information Reports (ECIRs) under the PMLA and three cases under FEMA, besides conducting searches at more than 80 premises linked to the group. Besides the Rs 20,367 crore worth of assets attached under the PMLA, the agency has also attached properties valued at Rs 77.86 crore under the FEMA, according to the ED. The Reliance Anil Ambani Group has denied wrongdoing in previous statements and has maintained that it is cooperating with investigating agencies. It did not immediately respond to queries on the latest attachment.To get details on exclusive and budget-friendly property deals in Mumbai & surrounding regions, do visit: https://budgetproperties.in/
2 hours agoThe assets attached till date in the Anil Ambani-led Reliance Group cases has reached ₹20,367 crore under the PMLA, and ₹77.86 crore under the FEMA, the ED says
3 hours agoThe investigation stems from a CBI FIR against Reliance Home Finance Limited (RHFL) and Reliance Commercial Finance Limited (RCFL)
3 hours agoThe Enforcement Directorate (ED) on Saturday said it has issued a fresh order to attach assets worth Rs 1,021 crore as part of a money laundering investigation against the Reliance Anil Ambani Group. The provisional order, issued under the Prevention of Money Laundering Act (PMLA), attaches equity shares of Reliance Power held by Reliance Infrastructure and certain loan amount receivable from Sasan Power and Reliance Power, the agency said in a statement. The investigation stems from a CBI FIR against Reliance Home Finance Limited (RHFL) and Reliance Commercial Finance Limited (RCFL). According to the ED, the probe found that public funds worth Rs 15,548 crore raised by RHFL and RCFL were "systematically diverted" through a web of "shell" (dummy) and group companies controlled and managed by the Reliance Anil Ambani Group. The ED is investigating multiple cases against the Group in connection with four FIRs filed under the anti-money laundering law, and three under provisions of th
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