New Delhi, Mar 6: The Enforcement Directorate (ED) on Friday carried out searches at several premises in Mumbai and Hyderabad as part of an ongoing money laundering investigation involving Reliance Power Ltd., a company linked to industrialist Anil Ambani, officials said.
According to officials, around 10 to 12 locations connected to the company and its senior executives were raided during the operation. Nearly 15 teams of the federal agency were deployed to conduct the searches simultaneously across the two cities.
The action is part of a broader probe into alleged financial irregularities and suspected bank fraud involving entities associated with the Anil Ambani group.
Investigators are examining financial records and transactions to determine the extent of the alleged violations under the Prevention of Money Laundering Act (PMLA). Further details about the case are expected to emerge as the investigation progresses.