ED attaches fresh ₹1,021 crore assets in Reliance Anil Ambani money laundering probe

Value of assets attached in the cases involving the group has reached Rs 20,367 crore under the Prevention of Money Laundering Act, the agency said.

The Enforcement Directorate (ED) on Saturday said it has attached fresh properties worth Rs 1,021 crore in the Reliance Home Finance Limited (RHFL) and Reliance Commercial Finance Limited (RCFL) case.

The company or its representatives have responded to earlier allegations in related proceedings, while the matter continues to be investigated by the central agencies.

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/

The 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

The investigation stems from a CBI FIR against Reliance Home Finance Limited (RHFL) and Reliance Commercial Finance Limited (RCFL)