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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

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TMC faces fresh turmoil as signature controversy exposes internal divisions in Bengal

A political controversy has erupted in West Bengal after two TMC MLAs alleged their signatures were used without consent on a letter endorsing Sobhandeb Chattopadhyay as Leader of Opposition, leading to their expulsion from the party.

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Mamata Banerjee

The Trinamool Congress (TMC) has found itself at the centre of a fresh political controversy after allegations emerged that signatures of some party legislators were used without their consent on a letter related to the appointment of the Leader of Opposition in the West Bengal Assembly.

The row intensified after two TMC MLAs, Ritabrata Banerjee and Sandipan Saha, reportedly objected to their signatures appearing on a letter endorsing senior party leader Sobhandeb Chattopadhyay for the post of Leader of Opposition. The legislators alleged that they had not signed the document.

Allegations trigger political confrontation

The controversy gained prominence after opposition leader Suvendu Adhikari raised the issue and questioned the authenticity of the signatures submitted to the Assembly Secretariat. The allegations have fuelled a political confrontation between the ruling party and the opposition.

Authorities are examining the matter, with the authenticity of the disputed signatures becoming a key focus of the ongoing inquiry. The investigation is expected to determine whether any procedural irregularities occurred during the submission of the endorsement letter.

TMC expels two MLAs

Amid the controversy, the Trinamool Congress expelled Ritabrata Banerjee and Sandipan Saha from the party. TMC leaders cited anti-party activities as the reason for the action, while the expulsions have further intensified debate around the signature dispute.

The development has brought internal disagreements within the party into public view and added to the political tensions surrounding the issue.

Inquiry continues

Officials are continuing to examine the allegations and related documents. The outcome of the inquiry is expected to clarify the circumstances under which the endorsement letter was submitted and whether any irregularities took place.

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K Annamalai likely to quit BJP after declining Rajya Sabha offer, sources say

Former Tamil Nadu leader K Annamalai is set to exit the BJP after rejecting a Rajya Sabha seat offer. Sources indicate he will launch a new public movement following strategic disagreements over assembly election alliances.

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K Annamalai

Former Tamil Nadu party chief K Annamalai is expected to resign from the Bharatiya Janata Party following a scheduled meeting with party president Nitin Nabin in Delhi. According to media sources, the former Indian Police Service (IPS) officer believes that his growth and opportunities within the national party have reached a dead end.

The developments follow a reported offer by the leadership to secure a Rajya Sabha seat for him, which he chose to decline. Instead of continuing his journey within the party, he is highly anticipated to introduce a fresh public movement in the state. This grassroots initiative will focus on mobilizing a broad network of volunteers and connecting with like-minded individuals across diverse professional and social spectrums. When questioned regarding the ongoing speculation about establishing his own political platform, he responded, “Please wait. We will sit down and talk in two days.”

The root of tactical disagreements

The impending departure highlights a growing divide concerning the party’s electoral approach leading up to the 2026 state assembly polls. He had strongly advocated for the party to contest the elections independently, relying on the significant grassroots momentum built during his tenure. Conversely, the central leadership opted to resurrect its alliance with the AIADMK, seeking to unite opposition votes against the governing DMK.

This strategic pivot coincided with structural alterations in the state unit’s administration. Media reports indicate that AIADMK general secretary Edappadi K Palaniswami explicitly requested structural changes in leadership as a prerequisite for the partnership, leading to his replacement as the state president. Consequently, he did not contest the assembly elections or play an active role in the frontline campaigning. The alliance ultimately managed to secure just a single seat in the assembly elections.

A rapid political trajectory

He entered the political sphere in 2020 after stepping away from the civil services, quickly advancing through the local party hierarchy. He was appointed as the state vice-president shortly after his entry and ascended to the position of state president within a single year.

As the state chief, he became one of the most prominent faces for the party in a region traditionally dominated by regional Dravidian parties. Through extensive mass outreach programs, aggressive digital campaigns, and high-visibility public interactions, he substantially enhanced the national party’s presence in the state. Despite the momentum, his opposition to traditional alliances and subsequent exclusion from national organizational roles created friction, paving the way for his expected departure.

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Western disturbance brings major relief from heatwave as mercury drops in Delhi-NCR

An active western disturbance over Rajasthan and central Pakistan has triggered heavy rain and thunderstorms, causing temperatures to plunge across Delhi-NCR and neighboring states.

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Delhi Rain

The intense heatwave sweeping across large parts of the country has officially abated, bringing much-needed respite to citizens. According to weather experts and the India Meteorological Department (IMD), a drastic drop in temperatures has kept the national capital significantly cooler than normal. On Sunday, Delhi recorded a maximum temperature of 35.8 degrees Celsius, which is 4.2 degrees below the seasonal average.

Western disturbance alters regional weather

Meteorologists have attributed this sudden shift to rain and thunderstorm activity triggered by an active western disturbance currently hovering over Rajasthan and central Pakistan. Media reports indicate that the city recorded 0.9 mm of rainfall in the 24 hours leading up to Saturday morning. While the current spell of rain is expected to weaken and move away gradually, leading to a slight rise in temperature from Monday, experts emphasize that no heatwave conditions are anticipated in Delhi during the first week of June.

Widespread rain across states; disruptions in hilly terrains

The impact of the changing weather systems is visible across multiple states. The IMD has forecast heavy rainfall, thunderstorms, and gusty winds reaching speeds of 40-50 kmph for Delhi-NCR, alongside localized heavy showers in Uttar Pradesh and Rajasthan. Furthermore, severe thunderstorm activity with squally winds up to 90 kmph has been predicted over northwest, central, and adjoining eastern regions of India.

In Gujarat, scattered to isolated rainfall and thunderstorms are projected over the next six days due to the active weather systems. Meanwhile, the southwest monsoon is making steady progress, with the weather office indicating its potential advancement into parts of Kerala and Tamil Nadu over the next three to four days.

While the plains enjoy a break from the scorching heat, the sudden weather transition caused temporary complications in the hill states. In Uttarakhand, a heavy downpour and adverse weather conditions led to the brief suspension of the Kedarnath Yatra, leaving hundreds of pilgrims stranded before the restrictions were lifted later in the day. Conversely, the cooler mountain breeze and pre-monsoon showers have triggered a massive influx of tourists to Shimla, as people flock from high-temperature states like Gujarat to seek comfort in the hills.

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