New Delhi/Mumbai: The Enforcement Directorate (ED) on Thursday carried out searches at 35 locations connected to industrialist Anil Ambani in Delhi and Mumbai as part of an ongoing money laundering investigation.
The raids were triggered by two FIRs filed by the Central Bureau of Investigation (CBI), which allege massive financial misconduct involving public funds. Preliminary findings by the ED suggest a “well-planned scheme” to defraud banks, investors, and public institutions by siphoning off large sums of money.
According to reports, the ED is probing alleged bribes paid to senior officials—including former promoters of Yes Bank—for sanctioning unsecured loans worth ₹3,000 crore to companies under the Reliance Anil Dhirubhai Ambani Group (RADAG).
Authorities suspect that key Yes Bank executives received personal payments for facilitating the irregular loans.
Regulatory agencies like SEBI, the National Housing Bank (NHB), and the National Financial Reporting Authority (NFRA) have shared their independent findings with the ED, flagging serious lapses and financial irregularities tied to the case.
