Mumbai (Gurpreet Singh): The Enforcement Directorate (ED) on Friday launched a series of search operations in Mumbai and Hyderabad as part of an investigation into suspected money laundering involving Reliance Power Ltd., a company associated with businessman Anil Ambani.
Officials familiar with the development said the agency conducted searches at around a dozen locations linked to the company and some of its senior officials. The action was carried out simultaneously in the two cities by multiple investigation teams.
Sources indicated that nearly 15 ED teams were deployed to examine offices and other premises connected with the company. The searches are aimed at gathering evidence related to financial transactions that are under scrutiny in an alleged bank fraud-linked money laundering case.
The investigation is part of a wider probe by the agency into several firms connected with the Anil Ambani business group. Investigators are examining whether funds obtained through loans were misused or routed through various entities in violation of financial regulations.
Authorities are reviewing financial records, corporate documents and electronic data recovered during the searches to trace the movement of money and determine the extent of any irregularities.
The latest action follows a significant step taken by the ED last month when it provisionally attached a luxury residential property belonging to Anil Ambani in Mumbai. The property, known as “Abode,” is estimated to be valued at approximately ₹3,500 crore and was linked by investigators to the ongoing case.
Officials said the inquiry remains active and further legal or investigative steps may be taken depending on the findings from the current round of searches. The agency continues to examine financial dealings of multiple entities connected to the group as part of its efforts to establish whether money laundering took place.
