ED raids multiple entities linked to Anil Ambani, Reliance Power says no such action

New Delhi: The Enforcement Directorate (ED) on Friday conducted a series of raids on various businesses and individuals associated with industrialist Anil Ambani.

According to agency sources, the coordinated raids were conducted at 10 to 12 locations across Mumbai.

A team of approximately 15 specialised ED units initiated the searches in the early hours, focused on the registered offices and residential premises of people related to the power utility company, sources added.

Meanwhile, Reliance Power on Friday said no searches have been carried out at any of its offices or premises.

In a stock exchange filing, the company said: “This is in reference to various media reports alleging that the Enforcement Directorate has conducted raids at locations linked to Reliance Power Limited. In this regard, the Company would like to clarify that, to the best of its knowledge, no such action has been carried out at any of the offices or premises of the Company.”

The financial regulator is probing multiple companies linked to Anil Ambani as part of an alleged bank fraud-linked money laundering case, apart from financial irregularities under the Foreign Exchange Management Act (FEMA). The industrialist has been questioned twice by the ED under the Prevention of Money Laundering Act in connection with the investigation.

Earlier, ED provisionally attached the Rs 3,716.83 crore worth posh Pali Hill residential property ‘Abode’ of Anil Ambani in Reliance Communications Ltd.’s bank fraud case, according to an official statement.

Enforcement Directorate Special Task Force, Headquarters, has provisionally attached the Pali Hill residential property under the provisions of the Prevention of Money Laundering Act, 2002 (PMLA). Earlier, part of this property was attached to the extent of Rs 473.17 crore, the statement issued by the financial investigative agency said.

Meanwhile, the Central Bureau of Investigation (CBI) also conducted searches at the residences of Anil Ambani and offices of Reliance Communications (RCom) late last month, after registering a second case against the company on the complaint given by the Bank of Baroda dated February 24 for offences of conspiracy, cheating under the IPC, and criminal misconduct and abuse of official position under the Prevention of Corruption Act.

The case was filed against Anil Ambani, promoter and erstwhile Chairman of Reliance Communications, and others, according to a statement issued by the premier investigative agency