Mumbai, March 6: The Enforcement Directorate (ED) conducted raids on Friday at various locations associated with industrialist Anil Ambani and Reliance Power. According to agency sources, these operations took place simultaneously at different sites across Mumbai.
Sources indicate that around 10 to 12 locations in the economic capital of India were targeted. Approximately 15 specialized teams from the ED initiated the search operations early in the morning. The raids focused on the registered offices and residences of individuals connected to the power company.
The raids are part of an investigation into suspicious fund transfers and financial transactions linked to Reliance Power. However, the ED has not yet released an official statement regarding the actions taken on Friday.
Previously, an official statement revealed that the ED had temporarily attached Anil Ambani’s luxurious residential property named ‘Abode’ in Pali Hill, valued at approximately ₹3,716.83 crores. This action was taken in connection with a bank fraud case involving Reliance Communications Limited.
The ED’s special task force has seized this property under the Prevention of Money Laundering Act, 2002. A portion of this property had already been seized for ₹473.17 crores.
Additionally, at the end of last month, the Central Bureau of Investigation (CBI) also conducted searches at Anil Ambani’s residences and the offices of Reliance Communications (RCom). This action followed a second case registered against the company based on a complaint from Bank of Baroda.
According to the CBI, this case involves criminal conspiracy and fraud, with charges filed under the Indian Penal Code and the Prevention of Corruption Act. The agency’s statement noted that the case was registered against Anil Ambani, who is the promoter and former chairman of Reliance Communications, along with others.
The FIR alleges that Bank of Baroda suffered a loss exceeding ₹2,220 crores. It is claimed that loans taken by Reliance Communications were diverted and misused through fraudulent transactions with related parties. Furthermore, there are indications of manipulation in the company’s accounts to conceal irregularities.
The statement added that following the registration of the case, the CBI conducted a search at Anil Ambani’s residence and the registered office of Reliance Communications Limited, where several documents related to these loan transactions were recovered.
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