The Enforcement Directorate, (ED) has attached assets worth over three thousand 34 crore rupees in connection with the bank fraud case involving Reliance Communications Limited. With this, the total value of attachments in cases linked to the Reliance Anil Ambani Group has crossed over 19,344 crore rupees.
According to the ED, the action has been taken under provisions of the Prevention of Money Laundering Act, 2002 (PMLA) to prevent dissipation of assets and safeguard the interests of banks and the public. The investigation is part of a larger probe being carried out by a Special Investigation Team constituted on the directions of the Supreme Court of India into alleged diversion and laundering of public funds by the Reliance Anil Ambani Group.
It added that the case is based on multiple FIRs registered by the Central Bureau of Investigation following complaints from major financial institutions, including State Bank of India, Punjab National Bank, Bank of Baroda and Life Insurance Corporation of India. It further added that the investigations have revealed that RCOM and its group companies had availed loans from domestic and foreign lenders, with an outstanding amount of over 40 thousand 185 crore rupees.
The ED has identified several assets linked to the promoter group, including a residential flat in Mumbai’s Usha Kiran Building, a farmhouse in Khandala near Pune, and a land parcel in Sanand, Ahmedabad. The ED said that further investigation in the case is underway.
