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ED Conducts Raids at Multiple Locations Linked to Reliance Power Over Alleged Bank Fraud

New Delhi: The Enforcement Directorate (ED) continued its investigation into the Anil Dhirubhai Ambani Group of companies on Friday, carrying out searches at several locations in Mumbai and Hyderabad associated with Reliance Power in connection with an alleged bank loan fraud.

In a statement filed with the stock exchange, Reliance Power denied that any of its offices or premises were subject to ED searches. “To the best of our knowledge, no such action has been carried out at any of the offices or premises of the company,” the firm clarified.

Officials confirmed that at least 10 locations linked to Reliance Commercial Finance Ltd (RCFL), Reliance Home Finance Ltd (RHFL), and Reliance Power Ltd (RPOWER) were visited as part of the ongoing probe. Across the Anil Dhirubhai Ambani Group, the ED has searched 46 premises, issued 13 Provisional Attachment Orders, and attached 204 properties related to the alleged bank fraud.

Fifteen ED teams are reportedly involved in examining the role of Reliance Power and its executives in the alleged money laundering case, focusing on offices in Mumbai and Hyderabad.

Special Investigation Team Involvement

The probe is being overseen by a Special Investigation Team (SIT) constituted by the ED under Supreme Court directions to examine the alleged large-scale bank fraud involving entities such as Reliance Communications (RCOM) and Reliance Commercial Ltd.

The investigation continues, with authorities reviewing documents and tracing financial transactions linked to the alleged irregularities.