Rs 24,000-crore PMLA probe: ED raids 35 sites linked to Anil Ambani group, skips his home
The Enforcement Directorate (ED) conducted raids on over 35 locations linked to the Reliance Anil Ambani Group (RAAGA) in Mumbai and Delhi as part of a Rs 24,000 crore money laundering probe under the Prevention of Money Laundering Act (PMLA). The raids are connected to an alleged loan fraud case involving more than Rs 3,000 crore diverted illegally from Yes Bank between 2017 and 2019. The investigation covers around 50 companies and 25 individuals linked to Anil Ambani’s group. Notably, the ED did not raid Anil Ambani’s Mumbai residence in this operation. The probe also includes suspicious bribery payments to Yes Bank promoters’ personal accounts before the loans were sanctioned. Other agencies like CBI, SEBI, National Housing Bank, and NFRA have shared information with the ED to support the investigation. The group has distanced itself, stating that entities like Reliance Communications and Reliance Home Finance are no longer part of the current Reliance Group and are under separate legal processes.
ED raided 35+ locations linked to Anil Ambani’s group in connection with alleged Rs 24,000 crore money laundering.
The case involves a Rs 3,000 crore loan fraud with Yes Bank loans diverted illegally.
Around 50 companies and 25 individuals are under investigation.
Anil Ambani’s home was not raided.
Investigation reveals a scheme of siphoning public money and alleged bribery of bank officials.
The ongoing investigations impact past entities like Reliance Communications and Reliance Home Finance, no longer part of the current group.
Multiple regulatory and investigative bodies are collaborating in the probe.
This is a high-profile ongoing investigation triggered by earlier FIRs and related to irregularities in loan sanctions and financial transactions within the Ambani group’s companies.
