Reliance Power, in a regulatory filing, clarified that the Enforcement Directorate (ED) has not conducted any raids in its Mumbai and Hyderabad offices.
PTI earlier reported that the ED conducted raids on March 6 at about 10–12 locations in Mumbai and Hyderabad linked to Anil Ambani Group (ADAG) company Reliance Power as part of a money laundering investigation.
“The Company would like to clarify that, to the best of its knowledge, no such action has been carried out at any of the offices or premises of the Company,” Reliance Power said in its regulatory filing.
Reliance Power share price
The share price of Reliance Power, which operates in the energy and infrastructure sectors, is trading flat in the intra-day session today declining slightly near 0.27%. The stock has declined 50.76% in past six months.
Anil Ambani skips ED summon on Feb 27
Anil Ambani and Anil Ambani group companies are facing investigation by ED and Central Bureau of Investigation (CBI) in alleged Money Laundering case.
Anil Ambani was summoned by the ED on February 27 but he didn’t appear. Though a day earlier on February 26, Ambani had appeared at the ED headquarters in Delhi and recorded his statement in the case.
ED forms SIT to probe alleged ADAG fraud case
The ED launched its investigation based on a FIR filed by the CBI against Reliance Communications (RCOM), Ambani and others.
The ED, complying has also constituted a special investigation team (SIT) as ordered by the Supreme Court to probe the alleged banking and corporate fraud worth Rs 40,000 crore involving the Anil Dhirubhai Ambani Group (ADAG) and linked entities.
While investigating, the ED had recently attached Ambani’s Mumbai residential property located in Pali Hill, valued at Rs 3,716.83 crore, in connection with its money laundering probe linked to Reliance Communications (RCOM), another company of Anil Ambani Group. Earlier, part of the same property worth Rs 473.17 crore had already been attached.
With the latest action, the total value of properties attached in cases linked to the Reliance Anil Ambani Group has crossed Rs 15,700 crore.