New Delhi: Enforcement Directorate (ED) seized properties in major Indian cities belonging to Anil Ambani’s Anil Dhirubhai Ambani Group (ADAG). This time, the agency has attached properties worth approximately ₹1,400 crore. These lands and buildings are reportedly located in cities like Navi Mumbai, Chennai, Pune, and Bhubaneswar.
The action is part of an investigation the ED has been conducting for some time. The agency has already attached assets worth over ₹9,000 crore in this case. This means that a significant amount has been seized by the ED so far.
The ED says the case relates to the Jaipur-Ringas Highway project, which was awarded to Reliance Infra in 2010.
The agency alleges that approximately ₹40 crore (approximately $400 million) was transferred through this project through shell companies in Surat. It is suspected that this money is linked to a larger hawala network, which may have involved transactions totaling over ₹600 crore (approximately $600 million).
The ED has previously seized assets worth ₹7,500 crore in this case. Anil Ambani was also questioned in August. The CBI also previously filed an FIR regarding this entire matter. The CBI alleges that between 2010 and 2012, Anil Ambani, RCOM, and its affiliates took loans totaling over ₹40,000 crore from various banks in India and abroad.
The CBI says that five of the accounts to which the money was transferred were later deemed fraudulent by banks. Some of the transactions were found to be linked to individuals and companies that have previously been under scrutiny.
The ED says that the attached properties, including the funds, purchases, and transactions involved, are being closely examined. The agency believes that as documents are obtained, more information may emerge in the case.
The ADAG Group is already embroiled in financial difficulties and legal matters, and the increasing scrutiny by the ED and CBI has only made the situation more difficult.
Join our whatsapp group for Latest updates
Click Here for Chhattisgarh News
Click Here for Entertainment News