- Enforcement Directorate attached Rs 510 crore assets linked to Reliance fraud cases
- Attached properties include aircraft, land, office premises, windmills, and bank assets
- Total assets seized in Reliance Anil Ambani Group cases now near Rs 23,100 crore
The Enforcement Directorate has attached properties worth around Rs 510 crore linked to the Reliance Home Finance Limited, Reliance Commercial Finance Limited Bank Fraud Case and Reliance Communication Limited's Bank Fraud Case. The properties include aircrafts, bank balances, fixed deposits, immovable properties, receivables and investments, ED said in a press release on Tuesday.
The attached assets in Reliance Communications case include two chartered aircrafts, six land parcels, and one office premises in Maharashtra. In the Reliance Home Finance Limited, Reliance Commercial Finance Limited Bank Fraud case, two Windmillsin Tamil Nadu, bank balances, fixed deposits, and investments/receivables have been attached.
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Including these properties, the agency has cumulatively attached or seized assets worth nearly Rs 23,100 crores till date in several cases being investigated against Reliance Anil Ambani Group under the provisions of Prevention of Money Laundering Act (PMLA) and the Foreign Exchange Management Act (FEMA).
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The investigation was initiated by ED, under PMLA on the basis of multiple FIRs registered by CBI Delhi, Economic Offences Wing (EOW) Delhi, and Economic Offences Wing (EOW) Mumbai. "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 said.
It added, "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."
The agency has arrested ten individuals in these cases and filed six Prosecution Complaint under PMLA. Further one compliant has also been filed under provisions of FEMA.
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