The Enforcement Directorate (ED) on Friday (March 6) raided the premises of several businessmen and institutions associated with industrialist Anil Ambani and Reliance Power. According to agency sources, this action was taken simultaneously at different places in Mumbai. According to sources, these raids were conducted at about 10 to 12 places in the country’s financial capital Mumbai. It is being told that about 15 special teams of ED started the search operation early in the morning. This action was taken at the registered offices and homes of those people who are connected to this power company in some way or the other.
Sources say that this raid is being conducted as part of the investigation into suspicious fund transfers and financial transactions related to Reliance Power. However, no official statement has been issued yet by ED regarding this action taken on Friday.
According to an official statement, earlier the ED had temporarily attached Anil Ambani’s luxurious residential property named ‘Abode’ located in Pali Hill, whose value is said to be around Rs 3,716.83 crore. This action was taken in the bank fraud case related to Reliance Communications Limited.
The Special Task Force, Headquarters of the Enforcement Directorate has seized this property under the Prevention of Money Laundering Act, 2002. Earlier, a part of the same property worth Rs 473.17 crore had been seized.
At the end of last month, the Central Bureau of Investigation (CBI) had also searched the residences of Anil Ambani and the offices of Reliance Communications (RCom). The action was taken after a second case was registered against the company on a complaint by Bank of Baroda.
According to the CBI, the case pertains to criminal conspiracy and cheating, in which charges have been framed under the Indian Penal Code and Prevention of Corruption Act. According to the agency’s statement, the case has been registered against Anil Ambani, the promoter and former chairman of Reliance Communications, and others.
The FIR alleges that Bank of Baroda suffered a loss of more than Rs 2,220 crore. It is alleged that the loan taken by Reliance Communications was diverted and misappropriated through fraudulent transactions with related parties. Apart from this, the issue of hiding irregularities by manipulating the company’s accounts has also come to light.
The statement said that after the case was registered, the CBI conducted a search operation at Anil Ambani’s residence and the registered office of Reliance Communications Limited, from where many documents related to these loan transactions were recovered.
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