Anil Ambani Property Seized: ED has attached more than 40 properties related to Anil Ambani’s Reliance Group, whose total value is said to be Rs 3,084 crore. These also include Mumbai’s luxurious Pali Hill house ‘Abode’.
Anil Ambani ED Action: Anil Ambani, who was once among the richest people of India, is in trouble. The Enforcement Directorate (ED) has attached more than 40 properties related to his Reliance Group. These also include his luxurious house ‘Abode’ built in Pali Hill, Mumbai, which is counted among the most luxurious residences of the city. ED says that this action is related to money laundering and fund diversion case. ED said that this attachment has been done under Section 5(1) of PMLA (Prevention of Money Laundering Act). A total of properties worth Rs 3,084 crore have been seized. These include lands, offices and houses in big cities like Delhi, Mumbai, Chennai, Pune, Noida, Ghaziabad and Hyderabad.
How luxurious is Anil Ambani’s ‘Abode’?
Anil Ambani’s house ‘Abode’ located in Pali Hill, Mumbai has always been in the news. It is about 66 meters high and has luxury facilities like helipad, gym, swimming pool, lounge and a car collection and display area like Rolls Royce, Lexus, Porsche. It is said that Anil Ambani wanted to make it 150 meters high, but permission was not received.
How did Anil Ambani get trapped in Yes Bank loan case?
ED’s investigation revealed that between 2017 and 2019, Yes Bank gave loans worth about Rs 3,000 crore to Reliance Group companies, but this money was further transferred to other group companies and fake entities. According to ED, the funds received by Reliance Home Finance (RHFL) and Reliance Commercial Finance (RCFL) from Yes Bank were not diverted to the right place. Investigation revealed that some loans were applied, approved and released in the same day. There was no field verification in this. Documents of companies were found blank or fake. ED called it ‘intentional control failure’ i.e. it was done deliberately so that the money could not be tracked.
What new has emerged in the ED investigation?
ED has said in its report that some companies of Reliance Group transferred loans to fake companies, created many companies with the same address and directors and played the game of repaying old loans by taking new loans (loan evergreening). All these activities have been kept in the category of money laundering. ED is now also collecting details of other properties related to these companies.
CBI has also filed FIR
Before ED, CBI has also registered two FIRs in this case. In these, former Yes Bank CEO Rana Kapoor and many officials of Reliance Group were made accused. Both the agencies CBI and ED are now working together so that public money can be recovered.
Read this also-Before the disclosure of Cobra Post, Anil Ambani’s shares were in the red, know which ones broke by how much.
Read this also- Reliance Group condemned the action of Cobra Post, said- conspiracy to defame Anil Ambani