The Enforcement Directorate (ED) on Friday carried out searches at multiple locations in Mumbai and Hyderabad as part of an ongoing investigation linked to Reliance Power Ltd., a company of businessman Anil Ambani, officials said.
Reliance Power denied that the federal probe agency raided any of its offices or premises.
Around 10–12 premises associated with the company and its executives are being searched across the two cities, with nearly 15 teams of the federal agency conducting the operation, officials added.
Reliance Power Limited, later issued a statement saying, "This is in reference to various media reports alleging that the Enforcement Directorate has conducted raids at locations linked to Reliance Power Limited. In this regard, the company would like to clarify that, to the best of its knowledge, no such action has been carried out at any of the offices or premises of the company."
The probe is part of a broader investigation into companies linked to Ambani in connection with an alleged bank fraud-related money laundering case, along with suspected financial irregularities under the Foreign Exchange Management Act (FEMA).
Ambani, 66, has been questioned twice by the ED under the anti-money laundering law as part of the investigation.
The agency has also constituted a special investigation team (SIT) to examine cases against companies belonging to the Anil Dhirubhai Ambani Group (ADAG), following directions from the Supreme Court.
According to information submitted by the ED to the apex court, three money laundering cases have been registered against the Anil Dhirubhai Ambani Group (ADAG) to probe allegations of bank loan fraud and other financial irregularities.