Crackdown on Anil Ambani's Powerhouse: ED Conducts Raids in Mumbai and Hyderabad

The Enforcement Directorate (ED) on Friday executed searches across various sites in Mumbai and Hyderabad. These operations are part of an investigation targeting Reliance Power Ltd., a company associated with business magnate Anil Ambani, officials reported.

The searches involved 10-12 locations connected to the company and its executives, according to sources. Approximately 15 ED teams are engaged in this extensive operation. Despite queries, the Reliance Group has not issued a statement regarding the raids.

The ED's investigation is centered around an alleged bank fraud and subsequent money laundering activities linked to several Anil Ambani-related companies. This probe, initiated under the Foreign Exchange Management Act, follows the Supreme Court's directive mandating a special investigation team to explore charges against the Anil Dhirubhai Ambani Group (ADAG).