One key focus of the investigation is Reliance Home Finance Limited (RHFL).
ED Raids Multiple Premises Linked to Anil Ambani in Money Laundering Probe
ED Raids Multiple Premises Linked to Anil Ambani: The Enforcement Directorate (ED) on Thursday conducted extensive searches at multiple locations associated with industrialist Anil Ambani in connection with a money laundering investigation, according to The Free Press Journal.
Teams from the ED's Delhi and Mumbai units carried out raids at offices of companies belonging to the Reliance Anil Dhirubhai Ambani Group (RAAGA). The searches were conducted under Section 17 of the Prevention of Money Laundering Act (PMLA).
According to ANI, the operation covers over 35 premises, involving 50 companies and more than 25 individuals. The probe stems from FIRs previously registered by the Central Bureau of Investigation (CBI), following which the ED began investigating alleged money laundering offences by RAAGA companies.
Sources within the ED indicated that several other institutions—including the National Housing Bank, the Securities and Exchange Board of India (SEBI), the National Financial Reporting Authority (NFRA), and Bank of Baroda—have provided relevant information to aid the probe.
Preliminary findings suggest a "well-planned and deliberate scheme" to siphon off public funds by misleading banks, shareholders, investors, and public institutions. The agency is also examining allegations of bribery involving bank officials, including the promoter of Yes Bank Limited, officials said.
One key focus of the investigation is Reliance Home Finance Limited (RHFL). ED sources revealed that SEBI had earlier shared findings on dramatic increases in RHFL’s corporate loan book—from rupees 3,742.60 crore in FY 2017–18 to rupees 8,670.80 crore in FY 2018–19—which allegedly involved procedural irregularities, rushed approvals, and other financial violations, according ANI.
The searches are still underway, and while officials have confirmed the ongoing investigation, the ED has not yet released an official statement.
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