English हिन्दी
Connect with us

India News

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

Published

on

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

Captain Sumit Kapoor was not scheduled to fly Ajit Pawar plane on crash day, friends say

Captain Sumit Kapoor, who died in the plane crash that killed Ajit Pawar, was not scheduled to fly the aircraft and had filled in for another pilot delayed by traffic, friends said.

Published

on

Captain sumit kapoor

Captain Sumit Kapoor, one of the five people killed in the plane crash that claimed the life of Ajit Pawar in Baramati, was not originally assigned to operate the flight, according to his friends. They said Kapoor had stepped in at the last moment after another pilot was delayed due to traffic.

Speaking during Kapoor’s funeral in Delhi, his friends said the veteran pilot had returned from Hong Kong just a few days earlier and received instructions to fly the aircraft only hours before the incident. He was tasked with flying Pawar from Mumbai to Baramati for election-related engagements.

The Learjet 45, operated by a Delhi-based aviation company, took off at around 8 am with Pawar and three others on board. The aircraft crashed around 8:45 am while attempting a second approach to Baramati Airport.

All five people on board died in the crash. The victims included Captain Kapoor, co-pilot Captain Shambhavi Pathak, flight attendant Pinky Mali, and Pawar’s security guard Vidip Jadhav.

Sources familiar with the early stage of the investigation said a preliminary probe pointed to a possible pilot misjudgement during landing amid poor visibility. Technical issues are also being examined as part of the ongoing inquiry.

However, Kapoor’s friends rejected suggestions of pilot error, saying he was highly experienced and deeply committed to flying. They stressed that the likelihood of him making a serious mistake was minimal and called for a thorough and transparent investigation into the crash.

Remembering Kapoor, his friends described him as a kind and dedicated professional who loved flying. They said aviation ran in his family, with both his son and son-in-law also working as pilots. Kapoor is survived by his son and daughter, both married, and a brother who runs a business in Gurugram.

One of his friends said Kapoor’s body was identified by a bracelet he was wearing, while another said the news of his death was difficult to accept. A close associate also recalled speaking to Kapoor after his return from Hong Kong, during which the pilot had advised him to take special care of his health.

Continue Reading

India News

Ajit Pawar aimed to reunite NCP factions as goodwill gesture to Sharad Pawar

Ajit Pawar wanted to reunite the two NCP factions as a birthday gesture for Sharad Pawar, but the plan did not take shape, NCP (SP) leader Ankush Kakade revealed.

Published

on

Sharad pawar ajit pawar

Ajit Pawar had attempted to bring together the two factions of the Nationalist Congress Party (NCP) last month as a goodwill gesture to his uncle Sharad Pawar on his birthday, but the effort did not succeed, according to NCP (SP) leader Ankush Kakade.

Speaking while paying tribute to the late Maharashtra deputy chief minister, Kakade said Pawar had personally asked him and other senior leaders to help initiate reconciliation talks between the divided factions of the party.

Efforts to reunite NCP before December 12

Kakade said Ajit Pawar had reached out to leaders including Vitthal Sheth Maniar and Srinivas Patil, citing their close association with Sharad Pawar, and urged them to act as intermediaries.

Recalling the conversation, Kakade said Ajit Pawar had expressed his wish for both factions to come together on December 12, Sharad Pawar’s birthday. Although the plan did not materialise at the time, Pawar had indicated that the process could be revisited after elections.

However, the reunion effort remained incomplete, Kakade noted, adding that Pawar was keen on preserving and strengthening the political legacy built by Sharad Pawar.

Ajit Pawar remembered for handling party legacy

Reflecting on his political journey with Ajit Pawar, Kakade said he would always remember how the leader managed internal challenges while remaining mindful of the senior Pawar’s stature within the party.

Ajit Pawar died on Wednesday along with four others when their aircraft crashed near the tabletop runway at Baramati airport in Pune district. Officials said the aircraft caught fire during a second landing attempt amid poor visibility.

Those who lost their lives in the crash included two pilots, Pawar’s personal security officer and a flight attendant.

Leadership questions emerge after Pawar’s death

Following his death, attention has shifted to the future leadership of the NCP. Party voices are calling for Ajit Pawar’s wife, Sunetra Pawar, currently a Rajya Sabha MP, to take charge as party president and legislative leader.

Sources indicated that if this option faces political or procedural hurdles, senior leader Praful Patel may be considered for the role.

Continue Reading

India News

Delhi SWAT commando killed by husband, brother hears chilling final call

A Delhi Police SWAT commando was allegedly beaten to death by her husband while pregnant, with her brother hearing her final moments during a chilling phone call.

Published

on

swat commando

A 27-year-old Delhi Police Special Weapons and Tactics (SWAT) commando was allegedly beaten to death by her husband at their West Delhi residence, with her brother hearing her final moments during a phone call that has since become a key part of the investigation.

The victim, Kajal Chaudhary, was four months pregnant when she was assaulted on the night of January 22 at the couple’s rented home in Mohan Garden Extension. Police have arrested her husband, Ankur, a clerk posted with the Ministry of Defence at Delhi Cantonment, and registered a case of murder.

Brother hears assault during call

Kajal’s brother, Nikhil, a constable posted at Parliament Street Police Station, said he received a call from Ankur that night asking him to “make his sister understand”. When Nikhil spoke to Kajal separately, she began sharing details of ongoing issues at home.

During the conversation, Ankur allegedly snatched the phone from her and asked Nikhil to keep the call on recording, claiming it would serve as police evidence. Nikhil said he then heard his sister screaming before the call abruptly disconnected.

Minutes later, Ankur allegedly called again and informed him that Kajal had died, asking the family to come to the hospital.

Assault led to death days later

According to the FIR, Kajal was struck on the head from behind with a heavy dumbbell between 10 pm and 10.30 pm. Her family has alleged that she suffered multiple injuries across her body.

She was taken to a hospital in Ghaziabad, where she remained under treatment before succumbing to her injuries on January 27. Police arrested Ankur within hours of her death.

Dowry harassment allegations

Kajal’s family has accused her in-laws of persistent dowry harassment. Her parents claimed they had given expensive gifts, including a motorcycle, gold jewellery and cash at the time of marriage, but the demands allegedly continued.

Her mother alleged that Kajal had taken a loan for her in-laws, while her father said the family was pressured even after a car was arranged later. The family also claimed that communication with Kajal had become restricted.

Past violence and domestic workload

Nikhil said his sister had been slapped by her husband about five months ago, following which he had asked her to return home. He alleged that Ankur had apologised at the time and promised not to repeat the violence.

Despite being pregnant and working in a demanding police role, Kajal was allegedly expected to handle household chores, including cooking and cleaning, after returning from duty.

Marriage and family

Kajal and Ankur met while studying in college in Panipat and got married in November 2023. After repeated disputes at their native home in Ganaur, Haryana, they shifted to a rented house in West Delhi in December 2024, but tensions reportedly continued.

The couple has a one-and-a-half-year-old son, who is now with Kajal’s parents.

Continue Reading

Trending

© Copyright 2022 APNLIVE.com