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ED attaches assets worth over Rs 3,000 crore in money laundering case against Anil Ambani

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Assets worth more than Rs 3,000 crore linked to Reliance Group Chairman Anil Ambani, his group companies and linked entities have been attached as part of a money laundering investigation, the Enforcement Directorate (ED) said on Monday.

The federal probe agency issued four provisional orders under the Prevention of Money Laundering Act (PMLA) on October 31 for attaching 42 properties, including the 66-year-old Ambani’s family home in Pali Hill, Mumbai, apart from other residential and commercial properties of his group companies, it said.

A plot of land belonging to the Reliance Centre on Maharaja Ranjit Singh Marg in Delhi and multiple other assets of Reliance Infrastructure Ltd., certain linked entities like Adhar Property Consultancy Private Limited, Mohanbir Hi-tech Build Private Limited, Gamesa Investment Management Private Limited, Vihaan43 Realty Private Limited (earlier known as Kunjbihari Developers Private Limited) and that of Campion Properties Limited have been attached.

These properties are located in the national capital, Noida, Ghaziabad, Mumbai, Pune, Thane, Hyderabad, Chennai and East Godavari district in Andhra Pradesh.

Offices in the ‘Nagin Mahal’ building at Churchgate in Mumbai, flats in BHA Millenium apartments in Noida and Camus Capri Apartments in Hyderabad are among those provisionally attached by the ED.

The total value of the attached assets is more than Rs 3,083 crore, the agency said in a statement.

There was no immediate response from Ambani or his group on the ED action.

The agency said, so far, ED has detected “fraudulent” diversion of public money by various Reliance Anil Ambani group companies, including Reliance Communications Ltd (RCOM), Reliance Home Finance Ltd (RHFL), Reliance Commercial Finance Ltd (RCFL), Reliance Infrastructure Ltd (R-Infra) and Reliance Power Ltd.

The statement said a separate search action was carried out by the agency under the Foreign Exchange Management Act (FEMA) against R-Infra and it was found that Rs 40 crore was “siphoned” from the Jaipur-Reengus highway project.

“Funds moved through Surat-based shell companies to Dubai. The trail has unearthed a wider international hawala network exceeding Rs 600 crore,” it said.

The agency alleged that around 2010-12 onwards, RCOM and its group companies raised thousands of crores from Indian banks, of which Rs 19,694 crore remains outstanding. These assets turned into non-performing assets (NPA), with five banks declaring RCOM’s loan accounts as fraud, it said.

“Loans taken by one entity from one bank were utilised for repayment of loans taken by other entities from other banks, transfer to related parties, and investments in mutual funds, which was in contravention of the terms and conditions of the sanction letter of the loans.”

“In particular, RCOM and its group companies diverted over Rs 13,600 crore used in evergreening loans, over Rs 12,600 crore was diverted to connected parties and over Rs 1,800 crore was invested in fixed deposits and mutual funds, etc.,” it said.

The agency claimed certain loans were “siphoned off” outside India through foreign outward remittances.

It said that during 2017-2019, Yes Bank invested Rs 2,965 crore in RHFL instruments and Rs 2,045 crore in RCFL instruments. By December 2019, these became “non-performing” investments, it claimed.

The “outstanding” was Rs 1,353.50 crore for RHFL and Rs 1,984 crore for RCFL.

The agency added that RHFL and RCFL received public funds of more than Rs 10,000 crore and a large amount of this fund came from Yes Bank.

“Before Yes Bank invested this money in Reliance Anil Ambani group companies, it received huge funds from the erstwhile Reliance Nippon Mutual Fund.

“As per SEBI regulations, Reliance Nippon Mutual Fund could not invest/divert funds directly in Anil Ambani group finance companies due to conflict-of-interest rules,” the agency said.

The ED said it has “detected a pattern of mala fide in this case like pre-decided beneficiaries, manufactured paperwork, waived controls, and disbursals ahead of approvals, followed by swift routing to related entities”.

“This conduct enabled siphoning of public funds,” it said.

The ED, it said, continues to trace the proceeds of crime.

“The recoveries by ED, after following due process of law, are aimed at restoring losses to lenders and, ultimately, benefitting the general public,” it said, hinting at restoring or restituting the assets with “victim” banks, a provision available under the PMLA.

Ambani was questioned in the case by the ED in August.

This came after the agency searched 35 premises of 50 companies and 25 people, including executives of his business group, in Mumbai on July 24.

The ED’s money laundering case stems from a Central Bureau of Investigation FIR.

—PTI

India News

Ajit Pawar’s son seeks detailed probe into Baramati plane crash

Jay Pawar has demanded a comprehensive probe and action against the aviation firm after the Baramati plane crash that killed Ajit Pawar and four others.

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Jay Pawar, the younger son of Maharashtra Deputy Chief Minister Ajit Pawar, has called for a comprehensive and impartial investigation into the plane crash near Baramati that claimed his father’s life along with four others on January 28.

In a social media post on Wednesday, Jay Pawar raised concerns over what he described as “possible serious lapses” that may have led to the fatal accident. He asserted that the aircraft’s black box is not easily destroyed and stressed that people of Maharashtra deserve to know the complete truth behind the crash.

Demand for action against aviation company

The ill-fated Learjet 45XR aircraft was operated by VSR Ventures Private Limited. Jay Pawar urged authorities to conduct a detailed probe into the firm’s operations and sought a ban on the aviation company pending investigation.

“A detailed investigation of possible serious lapses and irregularities of the aircraft firm should be done in a detailed and impartial manner,” he said.

The crash occurred near the Baramati airstrip, resulting in the deaths of Ajit Pawar and four others.

Call for CBI probe and sabotage allegations

Jay Pawar’s statement came a day after Maharashtra Deputy Chief Minister Sunetra Pawar and leaders from the Nationalist Congress Party met Chief Minister Devendra Fadnavis to demand a Central Bureau of Investigation (CBI) probe into the accident.

Separately, NCP (SP) MLA Rohit Pawar alleged there was reason to suspect sabotage in the crash and called for a multi-agency investigation involving experts.

During a press conference last week, Rohit Pawar also questioned the past record of Captain Sumit Kapoor, who was piloting the aircraft on the day of the crash. He referred to the pilot’s previous three-year suspension for alcohol consumption.

AAIB seeking support to retrieve CVR data

The Aircraft Accident Investigation Bureau (AAIB) is conducting a detailed probe into the crash. According to the agency, special technical assistance has been sought to retrieve data from the Cockpit Voice Recorder (CVR) of the Learjet 45 aircraft involved in the accident.

The investigation is ongoing.

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PM Modi to inaugurate India AI Impact Summit 2026 at Bharat Mandapam today

PM Narendra Modi will inaugurate the India AI Impact Summit 2026 at Bharat Mandapam, with participation from 118 countries and global leaders.

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AI impact summit innauguration pm modi

Prime Minister Narendra Modi is set to inaugurate the India AI Impact Summit 2026 at Bharat Mandapam in New Delhi today.

He will participate in the opening ceremony at around 9:40 am and is scheduled to address the gathering at approximately 10:25 am. The inaugural session is expected to include addresses by French President Emmanuel Macron and United Nations Secretary-General Antonio Guterres, along with leading figures from the global technology and industry sectors.

Following the ceremony, the Prime Minister is expected to visit the India AI Impact Expo 2026 at around 11 am with other leaders, where various country pavilions will be showcased.

118 countries participating in summit

Union Minister Ashwini Vaishnaw, in his welcome address, said the summit has drawn participation from 118 countries.

Describing artificial intelligence as a foundational technology, he said AI is transforming how people work, learn and make decisions. The minister outlined five layers of the AI stack — Application, Model, Compute, Infrastructure and Energy — and said India is working across all these layers to democratise technology and ensure its benefits reach the masses.

Leaders’ plenary and CEO roundtable scheduled

The Prime Minister will participate in the Leaders’ Plenary around noon. The session will bring together heads of state, ministers and senior representatives from multilateral institutions to discuss governance, infrastructure and international cooperation in artificial intelligence.

Later in the evening, from 5:30 pm onwards, he will attend a CEO roundtable. The meeting will convene senior executives from global technology and industry firms along with government leadership to deliberate on investment, research collaboration, supply chains and deployment of AI systems.

Bill Gates to skip keynote address

Meanwhile, the Gates Foundation said Bill Gates will not deliver his keynote address at the summit today.

The organisation said it has decided that Mr Gates will not speak to ensure focus remains on the summit’s key priorities. The foundation will instead be represented by Ankur Vora, president of its Africa and India offices, who is scheduled to speak later during the event.

The foundation reiterated its commitment to advancing shared health and development goals in India.

Theme of the summit

The six-day summit began on February 16 and is being held under the theme “Sarvajan Hitaya, Sarvajan Sukhaya” (welfare for all, happiness of all).

This is the fourth annual international AI-focused gathering, following previous meetings held in the United Kingdom in 2023, South Korea in 2024 and France in 2025.

The exhibition remains closed to the general public today. To compensate for the closure, the government has extended the expo by an additional day and it will remain open until Saturday, February 21.

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Galgotias University asked to vacate India AI Summit over Chinese robot dog row

Galgotias University has reportedly been asked to vacate its stall at the India AI Impact Summit after a Chinese-made robotic dog was allegedly presented as a university innovation.

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Galgotias University has reportedly been asked to vacate its exhibition space at the India AI Impact Summit in New Delhi after a controversy erupted over the display of a robotic dog at the event.

The Greater Noida-based institution came under scrutiny after a video from the summit went viral on social media. In the clip, representatives of the university were seen presenting a robotic dog as a product developed by its Centre of Excellence.

Robot identified as Unitree Go2

The robotic dog displayed at the summit was identified as the Unitree Go2, a commercially available quadruped robot manufactured by Chinese robotics company Unitree. The model is available for purchase in India at a price ranging between Rs 2 lakh and Rs 3 lakh.

At the summit, the machine was introduced under the name “Orion”. In one of the widely circulated videos, a university representative claimed during a media interaction that the robot had been developed at Galgotias University’s Centre of Excellence.

Another clip showed a professor making a similar assertion, stating that the robot was built by the university team. Social media users later pointed out that the device matched the Unitree Go2 model and alleged that imported technology was being presented as an indigenous innovation.

University issues clarification

Following the backlash, Galgotias University released a statement on X, formerly Twitter, clarifying that the robotic dog had been procured from Unitree and was being used as a learning tool for students.

In its statement, the university said the robodog was acquired to help students experiment and expand their technical understanding. It further stated that it had not built the robot nor claimed to have done so.

However, the clarification drew further criticism online. A Community Note was added to the university’s post, stating that the claim of never presenting the robodog as its own was misleading. The note highlighted that the robot had been renamed “Orion” and that university representatives had explicitly claimed it was developed by their team during the event.

Faculty response amid reports of removal

Responding to the controversy, Neha, a communications faculty member at the School of Management who had earlier described the robot as a Galgotias innovation, said the issue may have stemmed from a misunderstanding during interaction with the media. She stated that she is not part of the AI department and that the robot was brought for projection purposes.

Meanwhile, amid reports that the university had been asked to vacate its stall at the summit, Professor Aishwarya Shrivastava said that they had no such information at that point.

Social media backlash intensifies

The controversy gained momentum after several users on X shared side-by-side comparisons of the robot displayed at the summit and promotional images of the Unitree Go2 available online.

One widely circulated post stated:

“This is Unitree Go2, a Chinese robot that can be ordered online. How is this being presented as developed by the university?”

Another user wrote:

“Renaming a commercial product ‘Orion’ doesn’t make it indigenous. This is a standard Unitree model.”

Multiple posts questioned how a commercially available imported product was described as a Centre of Excellence innovation during a national AI-focused summit.

The university later described the criticism as part of a “propaganda campaign” against it. Its post itself carried a Community Note stating that video evidence showed representatives claiming the robot was developed in-house.

The episode has sparked wider debate online over transparency, attribution and accurate representation of technology at innovation events.

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