ED attaches properties worth Rs. 1,021 Crore in Reliance Home/Commercial Finance case. Investigation reveals fund diversion of Rs 15,548 Crore. Total attachment in Anil Ambani Group cases now at Rs. 20,367 Crore under PMLA. 8 arrested.
ED attaches fresh properties worth Rs. 1,021 Crore in Reliance Home Finance Limited (RHFL) and Reliance Commercial Finance Limited (RCFL) case, being investigated under the provisions of PMLA, 2002.
Investigation Background and Findings
According to the release, the investigation was initiated against RHFL/ RCFL on the basis of multiple FIRs registered by the CBI pursuant to complaints filed by several public and private sector banks.
Investigation conducted so far has revealed that public funds amounting to Rs 15,548 Crore raised by RHFL and RCFL were systematically diverted through a web of shell and group companies controlled and managed by the Reliance Anil Ambani Group.
Details of Attached Assets
Attached properties include Equity Shares of Reliance Power Limited held by Reliance Infrastructure Limited and certain loan amount receivable from Sasan Power Limited & Reliance Power Limited, according to the release.
Scope of Investigation and Total Seizures
ED is investigating multiple cases against Reliance Anil Ambani Group under provisions of PMLA and FEMA. As on date, 4 ECIRs have been recorded under PMLA and 3 cases have been registered under provisions of FEMA, as stated in the release.
ED has searched more than 80 premises during the course of investigation.
After attachment of fresh Properties worth Rs. 1,021 Crore, total attachment till date in Reliance Anil Ambani Group cases have reached to Rs. 20,367 Crore under PMLA. Further properties worth Rs. 77.86 Crore have been attached under provisions of FEMA, according to the release.
Legal Actions and Arrests
ED has already filed 4 Prosecution Complaint in different cases under PMLA and filed 1 complaint under FEMA.
8 Senior Officers/ Close Associate of the Reliance Anil Ambani Group have been arrested so far under PMLA and all of them are in Judicial Custody.
Special Investigation Team Formed
In Compliance of the order of Hon'ble Supreme Court, ED has constituted a Special Investigation Team. SIT is expeditiously conducting the investigation in these cases. (ANI)
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