ED action against Anil Ambani: 17 storey residence ‘Abode’ located in Mumbai attached, worth Rs 3716 crore

Mumbai25 February. The Enforcement Directorate (ED) has attached the Mumbai-based ‘abode’ of Reliance Anil Dhirubhai Ambani Group Chairman Anil Ambani under the Anti-Money Laundering Act (PMLA). Located in Pali Hill area, this 66 meter high luxurious house has 17 storeys, which is worth Rs 3,716 crore. Official sources gave this information on Wednesday.

Money laundering case related to alleged bank fraud by Reliance Communications

According to sources, an interim order has been issued to seize this multi-storey house under PMLA in a case related to alleged bank fraud by Anil Ambani group company Reliance Communications (RCom). He said that the value of the seized assets is Rs 3,716.83 crore.

total so far 15,000 Assets worth more than Rs crore confiscated

According to ED, the total attachment action taken so far against Anil Ambani and his group companies is more than Rs 15,000 crore. The action comes after the Supreme Court earlier this month directed the ED to set up a Special Investigation Team to probe allegations of large-scale fraud committed by Reliance Communications, companies and Reliance Group chairman Anil.

According to media reports, the Supreme Court also highlighted the assurance given by Ambani’s lawyer Mukul Rohatgi that his client will not leave the country and all necessary steps will be taken to ensure that the investigation is not hampered in any way.

Supreme Court instructs ED and CBI not to be slow in investigation

The apex court has directed the Central Bureau of Investigation (CBI) to identify all those bank officials who may be involved in the alleged fraud. The Supreme Court also said that both the agencies have been lax in their investigation and now they are expected to conduct a fair investigation. The court has also directed the CBI and ED to inform from time to time about the progress of their investigation in this case.

RCom and its associate companies had taken loans of Rs 40 thousand crores from many banks.

The ED had started investigating the case last year following a CBI FIR in which Anil Ambani, RCom and others were accused of fraud, conspiracy and corruption. The focus of the investigation is RCom and its subsidiaries, which had taken loans of more than Rs 40,000 crore from Indian and foreign banks between 2010 and 2012. Of these, five accounts have been declared fraudulent by the lending banks.

In the status report of the CBI, the Supreme Court said that the investigation was initiated after the first FIR was registered on the complaint of SBI, and its scope was expanded to include similar complaints of other banks like Bank of Maharashtra, Bank of Baroda and Bank of India.