ED raids entities linked to Reliance Power Ltd

The Directorate of Enforcement (ED) on Friday conducted raids on companies associated with businessman Anil Ambani and Reliance Power Ltd at multiple locations in Mumbai and Hyderabad.

According to agency sources, raids were conducted at 10 to 12 locations in Mumbai and Hyderabad after 15 ED teams began operations early on Friday morning. The searches were conducted against people linked to Reliance Power Ltd and are part of a broader investigation into the alleged financial irregularities and money laundering.

However, Reliance Power denied that ED raided any of its offices or premises.

The company in a BSE filing said, “In reference to various media reports alleging that the Enforcement Directorate has conducted raids at locations linked to Reliance Power Limited. In this regard, 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."

Anil Ambani has been questioned twice by the ED under the anti-money laundering law as part of this investigation.

Last month, ED had provisionally attached Anil Ambani’s Mumbai residence, known as ‘Abode’, worth Rs 3,700 crore, in connection with a long-standing investigation into the alleged bank fraud case.