In a high-stakes crackdown, the Enforcement Directorate struck multiple premises connected to Anil Ambani and Reliance Power on Friday morning. Agency insiders confirmed simultaneous searches at approximately 10 to 12 spots in Mumbai, involving 15 dedicated teams targeting residences and offices of associated business figures.
This action probes alleged dubious money flows and transactions involving the debt-laden power company. No formal ED announcement has surfaced, but the intensity mirrors prior enforcement steps. Recall that the ED recently provisional attached Anil Ambani’s opulent ‘Abode’ in Pali Hill, pegged at ₹3,716.83 crore, linked to a Reliance Communications bank fraud.
Under PMLA provisions, the ED’s headquarters task force secured the asset, following an earlier seizure of ₹473.17 crore from the same property. The plot thickened last month when CBI raided Ambani’s homes and RCom offices on Bank of Baroda’s complaint, registering a case of fraud and conspiracy.
Accusations point to Anil Ambani and associates siphoning over ₹2,220 crore in loans via fictitious deals and related-party misuse, masked by ledger tampering. Documents seized during CBI operations illuminate these loan diversions. This multi-agency pursuit signals deeper rot in corporate governance, with Reliance entities under the microscope.
Industry watchers note the ripple effects on investor confidence and lending norms. As ED delves further, Anil Ambani’s business empire braces for potential fallout, reminding all of the long arm of financial regulators in upholding economic integrity.