ED action on Anil Ambani Group: 2 aircraft, other assets worth Rs 510 crore seized
The Enforcement Directorate has attached assets worth Rs 510 crore belonging to the Reliance Anil Ambani Group as part of a money laundering investigation. The seizure includes two private aircraft and various land parcels linked to alleged bank fraud.
Why it matters
This action represents a significant escalation in the Indian government's crackdown on corporate financial malfeasance and money laundering.
NEW DELHI: The Enforcement Directorate (ED) on Tuesday attached assets worth Rs 510 crore including two private aircraft as part of its money laundering investigation into alleged bank fraud involving the Reliance Anil Ambani Group (RAAG).The agency said the action was linked to alleged fraud involving Reliance Home Finance Ltd (RHFL) and Reliance Commercial Finance Ltd (RCFL), amounting to Rs 263.05 crore, and Reliance Communications Ltd (RCOM), involving Rs 247.12 crore.The ED has issued a provisional attachment order under the Prevention of Money Laundering Act (PMLA), covering properties worth Rs 510 crore.In the RCOM case, the attached assets include two chartered aircraft, six land parcels and an office premises in Maharashtra, the ED said in a statement.The two aircraft are a Dassault Falcon 2000 and an Embraer.In the RHFL and RCFL case, the agency has attached…
Also covering this story
2 other newsrooms covered this event. We read each version separately.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in