Anil Ambani News: Ambani's troubles may increase further, ED is constantly in action mode

Anil Ambani News: The Enforcement Directorate (ED) raids on industrialist Anil Ambani's offices and premises continued for the third consecutive day. The action is related to an alleged money laundering case of more than Rs 3000 crore, in which some sources claim that the scam amount could be up to Rs 24,000 crore. The investigation, which started at 7 am on Thursday, is still going on at the major offices and other locations of Reliance Anil Dhirubhai Ambani Group (RAAGA) in Mumbai on Saturday.

Scope of investigation and action

ED teams are conducting a thorough investigation of documents, digital data and transaction-related ledgers related to the Reliance Group. According to sources, ED's suspicion is deepening on Anil Ambani's financial dealings, especially foreign investments, use of debt and activities of related companies. The investigation has also been intensified in the case of alleged misuse of loans worth about Rs 3000 crore taken from Yes Bank between 2017 and 2019.

The investigation has also revealed that funds were transferred to various companies associated with the promoters of Yes Bank just before the loan was approved. The ED is now investigating these transactions in depth, including old financial matters. This action has created a stir in business and political circles, and it is believed that more big revelations may be made in the coming days.

Reliance Group's side

Reliance Group has denied these allegations. Reliance Home Finance Limited (RHFL) said in its statement, "All loans given to private companies associated with the promoters of Yes Bank were given under a completely transparent process and after the approval of the credit committee. These loans were fully secured, and have been repaid in full including principal and interest. There is currently no outstanding."

Stir in the business world

This raid is indicating a major crisis for Reliance Anil Dhirubhai Ambani Group. Anil Ambani, who once ranked among the most influential industrialists in the country, has been facing financial crises in recent years. This action of the ED has not only raised questions on his business empire but has also sparked a debate on corporate governance and financial transparency.

Sources say that ED teams will continue to investigate documents and digital data for the next few days. The possibility of more companies or individuals being involved in this case is also not being ruled out. The business world and investors are keeping a close eye on this matter, as it may affect the companies of Reliance Group and the overall market.