New Delhi, March 6 (NationPress) The Enforcement Directorate (ED) executed a series of coordinated raids targeting various businesses and individuals connected to industrialist Anil Ambani on Friday.

Sources from the agency revealed that the simultaneous operations took place at approximately 10 to 12 locations throughout Mumbai.

A specialized team of around 15 units from the ED commenced the searches in the early morning hours, concentrating on the registered offices and residential properties of individuals associated with the power utility firm, according to sources.

However, Reliance Power stated on Friday that no searches had taken place at any of its offices or facilities.

In a filing to the stock exchange, the company clarified, “This is in response to various media reports suggesting that the Enforcement Directorate has conducted raids at locations affiliated with Reliance Power Limited. The Company would like to emphasize that, as far as it is aware, no such action has been undertaken at any of its offices or premises.”

The financial regulatory body is investigating multiple entities linked to Anil Ambani as part of a suspected bank fraud-related money laundering scheme, alongside financial discrepancies under the Foreign Exchange Management Act (FEMA). The industrialist has faced questioning twice by the ED under the Prevention of Money Laundering Act regarding this investigation.

Previously, the ED had provisionally seized the luxurious Rs 3,716.83 crore Pali Hill residential property named ‘Abode’ belonging to Anil Ambani in the context of Reliance Communications Ltd.’s bank fraud case, as per an official declaration.

The Enforcement Directorate Special Task Force has provisionally confiscated the Pali Hill property under the stipulations of the Prevention of Money Laundering Act, 2002 (PMLA). Earlier, part of this property was attached to the value of Rs 473.17 crore, according to a statement released by the financial investigative body.

Additionally, the Central Bureau of Investigation (CBI) conducted searches at Anil Ambani's residences and the offices of Reliance Communications (RCom) late last month, following the registration of a second case against the company based on a complaint lodged by the Bank of Baroda on February 24 regarding charges of conspiracy, cheating under the IPC, and criminal misconduct along with abuse of official position under the Prevention of Corruption Act.

The case is directed against Anil Ambani, the promoter and former Chairman of Reliance Communications, among others, as stated by the leading investigative agency.