ED attaches assets worth Rs 1,021 crore in Reliance Anil Ambani Group probe

The Enforcement Directorate (ED) on Saturday said it has attached fresh assets worth Rs 1,021 crore in its money laundering investigation into Reliance Home Finance Ltd (RHFL) and Reliance Commercial Finance Ltd (RCFL), taking the total value of assets attached in cases linked to the Reliance Anil Ambani Group to Rs 20,367 crore.

The agency said the investigation stems from multiple FIRs registered by the Central Bureau of Investigation (CBI) following complaints by several public and private sector banks.

According to the ED, its investigation has so far found that public funds amounting to Rs 15,548 crore raised by RHFL and RCFL were allegedly diverted through a network of shell entities and group companies controlled by the Reliance Anil Ambani Group.

The latest attachment includes equity shares of Reliance Power Ltd held by Reliance Infrastructure Ltd, as well as certain loan receivables from Sasan Power Ltd and Reliance Power Ltd, the agency said.

The ED is investigating multiple cases involving the Reliance Anil Ambani Group under the Prevention of Money Laundering Act (PMLA) and the Foreign Exchange Management Act (FEMA). It said four Enforcement Case Information Reports (ECIRs) have been registered under the PMLA, while three cases are being investigated under FEMA.

The agency said it has searched more than 80 premises as part of the investigation. In addition to the PMLA attachments, assets worth Rs 77.86 crore have also been attached under FEMA provisions.

According to the ED, eight senior officials and close associates linked to the Reliance Anil Ambani Group have been arrested under the PMLA and are currently in judicial custody.

The agency has also constituted a Special Investigation Team (SIT) to expedite the investigation.

Earlier this week, the ED carried out searches at the premises of E-Complex Private Ltd and the residence of one of its directors. The agency said the operation led to the seizure of documents and other evidence relating to alleged suspicious transactions, immovable properties and assets purportedly beneficially owned or controlled by the Reliance Anil Ambani Group.

The investigation is continuing.

With IANS inputs