Mumbai The Enforcement Directorate (ED) team on Wednesday attached industrialist Anil Ambani’s residence ‘Abode’ in Pali Hill, Mumbai as part of the money laundering investigation in the alleged bank scam of Reliance Communications Limited.
The value of the attached property is Rs 3,716.83 crore. According to ED, earlier a portion of this property worth Rs 473.17 crore was attached. With the new action taken today, the total value of Anil Ambani’s properties attached so far has exceeded Rs 15,700 crore.
The ED had initiated investigation against Reliance Communications Limited (RCOM), Anil Ambani and others under sections 120-B, 406 and 420 of the Indian Penal Code, 1860 and section 13(2) read with 13(1)(m) of the Prevention of Corruption Act, 1989, based on an FIR by the Central Bureau of Investigation (CBI).
ED said that RCom and its group companies had taken loans, out of which a total of Rs 40,185 crore is outstanding. The investigation revealed that apart from other assets, the Pali Hill property was merged into the trust, which is a private family trust owned by Anil Ambani’s family members.
ED said that this was done so that it seems that Anil Ambani is not involved in this. At present the ED team is investigating the case.
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