Reliance Power

06 Mar

Money Laundering Probe: ED Raids Premises Linked to Reliance Power in Two Cities

Rajeev Sharma0 CommentsIndia, TrendingReliance Power

Mumbai (Gurpreet Singh): The Enforcement Directorate (ED) on Friday launched a series of search operations in Mumbai and Hyderabad as part of an investigation into suspected money laundering involving Reliance Power Ltd., a company associated with businessman Anil Ambani. Officials familiar with the development said the agency conducted searches at around a dozen locations linked to the company and some of its senior officials. The action was carried out simultaneously in the two cities by multiple investigation teams. Sources indicated that nearly 15 ED teams were deployed to examine offices and other premises connected with the company. The searches are…

11 Oct

ED Arrests Reliance Power CFO in Rs 68 Crore Fake Bank Guarantee Case

Rajeev Sharma0 CommentsIndia, TrendingAnil Ambani, Reliance Power

New Delhi (Rajeev Sharma): The Enforcement Directorate (ED) has arrested Ashok Pal, Chief Financial Officer of Reliance Power, in connection with an ongoing investigation into a suspected money laundering case involving a bogus bank guarantee worth Rs 68.2 crore. The arrest took place on Friday night following a detailed questioning session. ED officials confirmed that Pal was taken into custody under provisions of the Prevention of Money Laundering Act (PMLA). He is expected to be produced before a special court on Saturday, where the agency will request his remand for further interrogation. The case concerns a bank guarantee allegedly submitted…