General
The Enforcement Directorate (ED) on Friday carried out raids at three locations in Bhubaneswar in connection with an alleged Rs 68 crore money laundering case involving industrialist and Reliance Group Chairman Anil Ambani.
According to official sources, the central agency is carrying out raids at three locations in Bhubaneswar, including Biswal Traders and two other trading companies, and one place in Kolkata.
The raids were conducted as part of a wider probe into suspicious financial activities and possible misuse of company credentials. Officials are said to be examining documents, bank records, and digital data seized during the searches.
Though the ED has not released an official statement yet, sources indicate that the role of a few firms is under scrutiny.
Meanwhile, the ED has summoned Anil Ambani for questioning on August 5 in a money laundering case linked to alleged bank loan fraud worth crores of rupees against his group companies, official sources said on Friday.
Ambani has been asked to depose at the ED headquarters in Delhi as the case has been registered in the national capital, the sources said. The agency will record his statement under the Prevention of Money Laundering Act (PMLA) once he deposes, they said.
Some executives of his group companies have been also been summoned over the next few days.
The summons came after the federal agency conducted searches at 35 premises of 50 companies and 25 people, including executives of his business group, last week. The searches, launched on July 24, went on for three days.
The action pertains to alleged financial irregularities and collective loan “diversion” pegged at more than Rs 17,000 crore by multiple group companies of Anil Ambani, including Reliance Infrastructure (R Infra).
The ED is also looking at allegations of “illegal” loan diversion of around Rs 3,000 crore, given by the Yes Bank to the group companies of Ambani between 2017-2019.
The ED, the sources said, has found that just before the loan was granted, Yes Bank promoters “received” money in their concerns.
The agency is investigating this nexus of “bribe” and the loan.
(With PTI Inputs)