Mumbai
The Enforcement Directorate (ED) is conducting raids on businessman Anil Ambani’s companies. These raids are being conducted in Mumbai in cases related to money laundering against Anil Ambani Group companies.
This action was taken on the basis of two FIRs of National Housing Bank, SEBI, National Financial Reporting Authority (NFRA), Bank of Baroda and CBI. Searches are also being conducted in the campuses of several senior officials of companies associated with Anil Ambani.
The ED has found evidence in the investigation that it was a well -planned conspiracy for rigging public money. Many institutions, banks, shareholders and investors were cheated in this. The bribery angle is also being investigated, in which the promoters of Yes Bank are also suspicious.
Between 2017 and 2019, there is suspicion of illegal rigging and misuse of a loan of about Rs 3,000 crore taken from Yes Bank.
Why was Anil Ambani declared fraud?
Earlier, State Bank of India recently declared Anil Ambani as fraud. Earlier this month, the loan account of Anil Ambani’s company Reliance Communication received a big blow from SBI. SBI sent a show cause notice to the company in December 2023, March 2024 and September 2024. After reviewing the company’s reply, the bank had said that Anil Ambani’s company did not follow the terms of its loan and did not give complete information about the irregularities in the operation of its accounts.