New Delhi: The Enforcement Directorate (ED) has attached several assets, including aircraft, bank balances, fixed deposits, immovable properties, receivables & investments, totally valued at Rs 510 crore, in cases of alleged fraud related to the Anil Ambani Group, according to an agency statement issued Tuesday.
While assets valued at Rs 263.05 crore have been attached pertaining to the Reliance Home Finance Limited and Reliance Commercial Finance Limited Bank fraud case, another Rs 247.12 crore worth of assets have been attached that are linked to the Reliance Communications Limited bank case.
In the RCOM case, the attached assets include two chartered aircraft, 6 plots of land and office premises in Maharashtra. In the RCFL and RHFL case, two windmills in Tamil Nadu, bank balances, fixed deposits, as well as investments and receivables have been attached, the statement said.
With these new attachments, ED has now cumulatively attached or seized assets worth around Rs 23,100 crore till date in several cases being investigated against Reliance Anil Ambani Group under the provisions of the Prevention of Money-Laundering Act (PMLA) and the Foreign Exchange Management Act (FEMA).
The ED investigation was initiated on the basis of multiple FIRs registered by CBI Delhi, the Economic Offences Wing of the Delhi Police, and the Economic Offences Wing of Mumbai Police. The ED has also investigated two 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.
The ED investigation into the Reliance Anil Ambani Group revealed that it was involved in siphoning 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 utilised for the individual benefit of the promoters and their family, the statement said.
The ED has arrested 10 individuals in these cases and filed 6 prosecution complaints under the PMLA, 2002, while one complaint has also been filed under the provisions of the FEMA.
Further investigation is still in progress.
