ED raids on Anil Ambani companies: What led to this investigation?
CHENNAI: The Enforcement Directorate (ED) on Thursday raided over 35 premises, 50 companies, and around 25 individuals linked to Anil Ambani’s Reliance Group under Section 17 of the Prevention of Money Laundering Act (PMLA) in connection with an alleged Rs 3,000 crore loan scam involving Yes Bank.
According to preliminary findings, the ED has uncovered a “well-planned scheme” to siphon or divert Rs 3,000 crore between 2017 and 2019. The agency suspects bribe payments to Yes Bank promoters’ personal accounts shortly before the loan disbursals.
