Some more bank loans taken by these companies apart from certain alleged undisclosed foreign assets are under the scanner of the agency. Pics/Ashish Raje
More than 35 premises in Mumbai belonging to 50 companies and 25 people are being searched under the Prevention of Money Laundering Act (PMLA), sources said
ED sources said they are primarily probing allegations of illegal loan diversion of around Rs 3,000 crore, given by the Yes Bank to the group companies of Ambani between 2017 and 2019
Two group companies, Reliance Power and Reliance Infrastructure, said in separate but identical regulatory filings that the ED action has had "absolutely no impact" on their business operations, financial performance, shareholders, employees, or any other stakeholders
"The media reports appear to pertain to allegations concerning transactions of Reliance Communications Limited (RCOM) or Reliance Home Finance Limited (RHFL) which are over 10 years old," the companies said
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