Reliance Infrastructure, Reliance Power issue statements after ED raids on businesses linked to Anil Ambani

Amid Enforcement Directorate (ED) raids on businesses linked to Anil Ambani on Thursday, Reliance Infrastructure Limited (Reliance Infrastructure) and Reliance Power Limited (Reliance Power) clarified that the recent actions have absolutely no impact on the business operations, financial performance, shareholders, employees, or any other stakeholders of Reliance Infrastructure and Reliance Power. The media reports appear to pertain to allegations concerning transactions of Reliance Communications Limited (RCOM) or Reliance Home Finance Limited (RHFL), which are over 10 years old.

The ED launched a massive search operation at 35 premises, 50 companies and over 25 persons allegedly linked to money laundering case against Reliance Anil Ambani Group (RAAGA) Companies, official sources said. The move followed an investigation launched by the ED under the offence of alleged money laundering by RAAGA companies subsequent to recording of a First Inormation Report (FIR) by the Central Bureau of Investigation (CBI).

As per the officials, other agencies and institutions have also shared information with ED, such as the National Housing Bank, SEBI, National Financial Reporting Authority (NFRA) and Bank of Baroda.
"Preliminary investigation by ED has revealed a well-planned and thought-out scheme to divert and siphon off public money by cheating banks, shareholders, investors and other public institutions. The offence of bribing bank officials, including, promoter of Yes Banks Limite,d is also under scanner," Officials, privy to the development, told ANI.

With agency inputs