ED ATTACHES FURTHER ASSETS OF ₹510 CRORE OF RELIANCE ANIL AMBANI GROUP ED HAS ATTACHED SEVERAL PROPERTIES INCLUDING AIRCRAFTS, BANK BALANCES, FIXED DEPOSITS

Face2News/Mumbai

ED attaches further assets of ₹510 Crore of Reliance Anil Ambani Group ED has attached several properties including Aircrafts, Bank Balances, Fixed Deposits, Immovable Properties, Receivables & Investments in the cases pertaining to the Reliance Home Finance Limited/Reliance Commercial Finance Limited Bank Fraud Case (₹263.05 Crore) and Reliance Communication Limited’s Bank Fraud Case (₹247.12 Crore).

In the RCOM case, attached assets include 2 chartered aircrafts, 6 land  parcels, and one office premises in Maharashtra. In the RCFL/ RHFL case, 2 Windmillsin Tamil Nadu, bank balances, fixed deposits, and Investments/Receivables have been attached.

With the above attachments, ED has cumulatively attached/seized assets worth ₹23,100 Crore (approx.) till date in several cases being investigated against Reliance Anil Ambani Group under the provisions of PMLA and FEMA.

ED investigation was initiated on the basis of multiple FIRs registered by CBI Delhi, EOW Delhi, and EOW Mumbai. ED has also investigated 2 cases under FEMA. Companies under investigation include M/s Reliance Communication Ltd, M/s Reliance Home Finance Ltd, M/s Reliance Commercial Finance Ltd, M/s Reliance Infrastructure Ltd, M/s Reliance Power Ltd and M/s Reliance Capital Ltd.

ED investigation into the Reliance Anil Ambani Group revealed that
Group was involved in siphoning off of public funds from banks and financial
institutions, misuse of IBC Law to fraudulently ring-fence corporate assets for
personal use, diversion of public funds from India to offshore tax havens, etc.
A large part was utilized for the individual benefit of the promoters and their
family.

ED has arrested 10 individuals in these cases and filed 6 Prosecution
Complaint under PMLA, 2002. Further 1 compliant has also been filed under
provisions of FEMA. Further investigation is under progress.