Fresh Trouble For Anil Ambani As ED Searches Premises Linked To Anil Ambani, Reliance Power In Money-Laundering Probe

Mumbai: The Enforcement Directorate (ED) on Friday conducted searches at multiple locations in Mumbai and Hyderabad linked to companies associated with industrialist Anil Ambani and Reliance Power as part of an ongoing probe into alleged financial irregularities and money-laundering cases, officials said.

Officials said about 10–12 premises linked to associate companies and their executives were being searched in the two cities. Nearly 15 teams of the central probe agency carried out the action. The agency is examining the role of several companies associated with Anil Ambani and scrutinising their financial transactions to determine whether any proceeds of crime were generated and subsequently laundered through associated entities linked to Reliance Power.

The financial regulatory body is investigating multiple entities linked to Anil Ambani as part of a suspected bank fraud-related money laundering scheme, alongside financial discrepancies under the Foreign Exchange Management Act (FEMA).

The development comes amid a series of intensifying investigations involving various entities linked to the Anil Dhirubhai Ambani Group (ADAG). Earlier, the Central Bureau of Investigation conducted searches at the residences of Anil Ambani and offices of Reliance Communications (RCom) late last month after registering a second banking fraud case of over Rs 2,200 crore against the company.The case was registered on the basis of a complaint filed by Bank of Baroda(BOB) on February 24, alleging conspiracy and cheating under the IPC, along with criminal misconduct and abuse of official position under the Prevention of Corruption Act.

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Last week, Ambani was questioned by the ED for more than 10 hours in connection with a Rs 40,000-crore banking fraud case related to loans extended by the State Bank of India (SBI) and other lenders. However, he did not appear for questioning in a separate money-laundering investigation linked to loans from Yes Bank.

In response to the reports of the ED, Reliance Power Limited issued a statement dismissing the claims of raids and searches being carried out on their premises. A spokesperson for the company stated that, to the best of its knowledge, no such action has been carried out at any of the offices or premises belonging to Reliance Power.

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