ED conducts raids against Reliance Power Ltd. in Mumbai, Hyderabad

The Enforcement Directorate on Friday conducted searches at multiple locations in Mumbai and Hyderabad as part of a money laundering investigation against Reliance Power Ltd., a group company of businessman Anil Ambani, officials said.

Agency sources said about 10-12 locations linked to the said company and its executives are being searced in the two cities.

About 15 teams of the agency are undertaking the action, the officials said.

The ED is investigating multiple companies linked to Anil Ambani as part of an alleged bank fraud linked money laundering case.

Last month, the ED had provisionally attached Anil Ambani's Mumbai residence, known as 'Abode', worth Rs 3,500 crore, in connection with a long-standing investigation into the case.