ED Action against Anil Ambani Group: Taking major action in the alleged money laundering case related to Reliance Anil Ambani Group, the Enforcement Directorate (ED) has attached new assets worth Rs 1,021 crore. This action has been taken under the Prevention of Money Laundering Act (PMLA). According to ED, after this action, the total value of assets attached so far in cases related to Reliance Anil Ambani Group has reached Rs 20,367 crore.
What is the whole matter?
ED said that this investigation was started on the basis of several FIRs registered by the Central Bureau of Investigation (CBI). These FIRs were registered after complaints from public and private sector banks. The probe agency alleges that Reliance Home Finance Limited (RHFL) and Reliance Commercial Finance Limited (RCFL) allegedly misappropriated public funds amounting to Rs 15,548 crore raised from banks and financial institutions and diverted the same through various shell companies and other entities linked to the group.
On which properties was action taken this time?
According to the ED, the assets attached in this phase include the equity shares of Reliance Power Limited held by Reliance Infrastructure Limited. Apart from this, some loan receivables related to Sasan Power Limited and Reliance Power have also been attached. The agency says that these properties are linked to the proceeds of crime.
Four chargesheets filed, action taken under FEMA also
ED said that so far four prosecution complaints (charge sheets) have been filed in the court under PMLA in this case. Apart from this, a complaint has also been filed under the Foreign Exchange Management Act (FEMA). According to the agency, properties worth Rs 77.86 crore have also been attached under the provisions of FEMA.
Eight people arrested
The investigating agency has arrested 8 senior officials and close associates of Reliance Anil Ambani Group in this case. According to ED, all the accused are currently in judicial custody and investigation into the financial transactions related to them is going on. ED said in its statement that the Special Investigation Team (SIT) formed in compliance with the directions of the Supreme Court is investigating the case. According to the agency, the investigation is aimed at unearthing the entire network of alleged misappropriation of funds, money laundering and financial irregularities.
Also read- ED Raid: ED’s big action in bank scam related to Anil Ambani Group, important documents seized in the raid
ED says that this case is included in the cases related to big banking fund diversion and financial irregularities in the country. The investigation is still going on and further action can be taken in this matter in the coming time.
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