Enforcement Directorate freezes ₹1,021cr Reliance Anil Ambani Group assets
Big news from the financial world: India's Enforcement Directorate (ED) just froze assets worth ₹1,021 crore linked to the Reliance Anil Ambani Group.
This includes shares in Reliance Power and loan receivables from Sasan Power and Reliance Power.
The move is part of a money laundering probe connected to allegations against Reliance Home Finance and Reliance Commercial Finance.
ED says ₹15,548cr funneled, ₹20,367cr attached
According to the ED, around ₹15,548 crore raised by these companies was funneled through shell firms tied to the group.
So far, authorities have attached assets totaling ₹20,367 crore, filed four charge sheets, and arrested eight people.
The investigation is still ongoing, including probes into foreign exchange violations, making this one of the biggest financial cases involving a major Indian business group.