The Enforcement Directorate (ED) has seized 18 additional properties of Anil Ambani’s business group ‘Reliance Group’. Their total estimated value is said to be around Rs 120 crore.
Along with this, ED has so far temporarily seized assets of the group worth more than Rs 10,117 crore.
Which properties were confiscated?
According to the statement issued by ED, the seized assets include—
7 properties of Reliance Infrastructure Limited
2 properties of Reliance Power Limited
9 properties of Reliance Value Services Pvt Ltd
All these properties are located in Chennai and Mumbai.
Besides this, deposits in banks in the names of several group companies, and investments held by Reliance Venture, Asset Management Solutions Pvt Ltd have also been seized.
Action in Yes Bank fraud case
ED said that this action is being taken under the alleged fraud cases of about Rs 5,000 crore related to Yes Bank.
Cases were registered against BBCL officer, Anil Ambani and others in the case and on the basis of this, ED started investigation.
More than Rs 10,000 crore assets frozen so far
ED says that total assets worth Rs 10,117 crore of Anil Ambani group have been seized so far.
This action has been taken under the provisions of the Prevention of Money-Laundering Act (PMLA).
