Dawn broke with urgency in Mumbai as ED’s 15 squads raided 10-12 sites affiliated with Anil Ambani and Reliance Power. Insiders detail operations at linked individuals’ offices and homes, zeroing in on questionable transfers plaguing the power utility—no word yet from ED brass.
This escalation builds on the ED’s seizure of Ambani’s swanky ‘Abode’ at Pali Hill, valued at ₹3,716.83 crore, in RCom’s bank scam under PMLA. An initial ₹473.17 crore chunk was already under lien by the agency’s task force. CBI jumped in last month, scouring Ambani abodes and RCom premises post-Baroda Bank’s alert.
Framed under IPC and anti-corruption laws, the CBI FIR nails Ambani and cohorts for defrauding over ₹2,220 crore via phantom deals, diverting funds to allies, and doctoring books. Seized CBI docs chart the illicit loan paths. Amid Reliance’s debt woes, these probes spotlight systemic risks in leveraged firms.
The coordinated agency push reaffirms commitment to financial hygiene, deterring future malfeasance. Observers track how revelations might reshape Ambani’s strategies and influence sector-wide compliance. Clarity from ED could soon follow, steering narratives on corporate India’s ethical compass.