ED raids Reliance Power linked premises in Mumbai, Hyderabad
HYDERABAD: The Enforcement Directorate (ED) on Friday conducted searches at multiple locations in Mumbai and Hyderabad as part of a money laundering investigation linked to Reliance Power Ltd., a group company of businessman Anil Ambani.
Officials said about 10–12 premises connected to the company and its executives were being searched in the two cities. Nearly 15 teams of the central probe agency carried out the action simultaneously.
Agency examines financial transactions and company documents
Officials said the searches were aimed at collecting documents, electronic records and other evidence linked to financial transactions under scrutiny. The agency is examining the role of several companies associated with Anil Ambani as part of the probe.
According to officials, the investigation relates to an alleged bank fraud-linked money laundering case. The ED typically launches such probes based on complaints or cases registered by other investigative agencies or banks regarding suspected financial irregularities.
Probe focuses on companies linked to Anil Ambani
The case involves multiple companies linked to Anil Ambani, officials said. The ED is analysing financial dealings and fund movements to determine whether any proceeds of crime were generated and subsequently laundered through associated entities.
Officials added that further action in the case would depend on the evidence gathered during the searches and the findings of the ongoing investigation.
The Enforcement Directorate is responsible for investigating offences under the Prevention of Money Laundering Act (PMLA) and other financial crime laws.
