ED Attaches Rs 1,021 Crore in Fresh Properties
The Directorate of Enforcement (ED) has attached fresh properties valued at Rs 1,021 crore in connection with the Reliance Home Finance Limited (RHFL) and Reliance Commercial Finance Limited (RCFL) money laundering case. The investigation is being conducted under the Prevention of Money Laundering Act (PMLA), 2002.
The attached assets include equity shares of Reliance Power Limited held by Reliance Infrastructure Limited, along with certain loan receivables from Sasan Power Limited and Reliance Power Limited. This action follows multiple FIRs registered by the Central Bureau of Investigation (CBI) based on complaints from various public and private sector banks.
Alleged Diversion of Rs 15,548 Crore
According to the ED, its investigation has revealed that public funds amounting to Rs 15,548 crore, raised by RHFL and RCFL, were allegedly diverted through a network of shell and group companies controlled and managed by the Reliance Anil Ambani Group. The agency is currently probing multiple cases involving the group under the PMLA and the Foreign Exchange Management Act (FEMA).
So far, the ED has registered four Enforcement Case Information Reports (ECIRs) under the PMLA and three cases under FEMA. During the course of the investigation, searches have been conducted at more than 80 premises.
Total Attachments Reach Rs 20,367 Crore Under PMLA
With the latest attachment of Rs 1,021 crore, the total value of properties attached in cases linked to the Reliance Anil Ambani Group has reached Rs 20,367 crore under the PMLA. Additionally, properties worth Rs 77.86 crore have been attached under FEMA provisions.
The ED has already filed four chargesheets in different cases under the PMLA and one complaint under FEMA. Eight senior officers and a close associate of the Reliance Anil Ambani Group have been arrested under the PMLA, all of whom are currently in judicial custody.
Supreme Court Orders Special Investigation Team
In compliance with an order from the Supreme Court, the ED has constituted a special investigation team (SIT) to probe the matter. The SIT is currently investigating the case.
