New Delhi: The Enforcement Directorate (ED) has provisionally attached assets worth \u20b93,034.90 crore in connection with an alleged bank fraud case involving Reliance Communications Limited (RCOM).<\/p>\n
Action under PMLA<\/p>\n
Officials said the attachment has been carried out under the Prevention of Money Laundering Act (PMLA) to prevent disposal of assets and safeguard the interests of banks and the public.<\/p>\n
The probe stems from multiple FIRs registered by the Central Bureau of Investigation based on complaints by lenders including State Bank of India, Punjab National Bank, Bank of Baroda and Life Insurance Corporation of India.<\/p>\n
Anil Ambani under scanner<\/p>\n
The case also involves Anil Ambani and other entities linked to the group. Investigators allege that RCOM and its group companies defaulted on loans taken from domestic and foreign lenders, with outstanding dues of around \u20b940,185 crore.<\/p>\n
Key properties and shares seized<\/p>\n
ED has identified and attached several assets linked to the promoter group, including:<\/p>\n
A residential flat in Mumbai\u2019s Usha Kiran building<\/p>\n
A farmhouse in Khandala (Pune).<\/p>\n
Land in Sanand (Ahmedabad)<\/p>\n
Additionally, 7.71 crore shares of Reliance Infrastructure Limited held by Rise Infinity Pvt Ltd\u2014part of a family trust linked to Ambani\u2014have also been attached.<\/p>\n
SIT probe ongoing<\/p>\n
A Special Investigation Team (SIT), constituted under directions of the Supreme Court of India, is also examining alleged diversion and laundering of bank and public funds linked to the Reliance Anil Ambani Group (RAAG).<\/p>\n","protected":false},"excerpt":{"rendered":"
New Delhi: The Enforcement Directorate (ED) has provisionally attached assets worth \u20b93,034.90 crore in connection with an alleged bank fraud case involving Reliance Communications Limited (RCOM). Action under PMLA Officials said the attachment has been carried out under the Prevention of Money Laundering Act (PMLA) to prevent disposal of assets and safeguard the interests of […]<\/p>\n","protected":false},"author":1,"featured_media":64353,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19,37],"tags":[14650,14648,14651,14649],"class_list":["post-64352","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest","category-national","tag-bank","tag-ed-attaches-3034-crore-assets","tag-fraud-probe","tag-in-reliance-communications"],"yoast_head":"\n