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Reliance Anil Ambani Group Under Scanner: ED Seizes Assets Worth ₹1,021 Crore Under PMLA
ED Action: The Enforcement Directorate has seized new assets worth ₹1,021 crore in its money laundering investigation against the Reliance Anil Ambani Group. A total of ₹20,367 crore worth of assets have been seized so far.
Enforcement Directorate (ED) has made another significant move in connection to the money laundering case being filed against the Reliance Anil Ambani Group. In its latest move, the ED issued orders to seize new assets worth Rs 1,021 crore under the Prevention of Money Laundering Act (PMLA) on Saturday.
According to a statement by the ED, the interim order pertains to the equity shares of Reliance Power held by Reliance Infrastructure. It also encompasses loan proceeds of Sasan Power and Reliance Power. The entire process of investigation was triggered with the filing of an FIR by CBI against Reliance Home Finance Limited (RHFL) and Reliance Commercial Finance Limited (RCFL).
The ED investigation has revealed that ₹15,548 crore of public funds raised by RHFL and RCFL were misappropriated. These funds were systematically diverted through a network of shell and group companies controlled and managed by the Reliance Anil Ambani Group. The ED is investigating several cases against the group, including four FIRs under the anti-money laundering law and three cases under the provisions of the Foreign Exchange Management Act (FEMA).
