NEW DELHI: The Enforcement Directorate (ED) on Tuesday attached assets worth Rs 510 crore including two private aircraft as part of its money laundering investigation into alleged bank fraud involving the Reliance Anil Ambani Group (RAAG).The agency said the action was linked to alleged fraud involving Reliance Home Finance Ltd (RHFL) and Reliance Commercial Finance Ltd (RCFL), amounting to Rs 263.05 crore, and Reliance Communications Ltd (RCOM), involving Rs 247.12 crore.The ED has issued a provisional attachment order under the Prevention of Money Laundering Act (PMLA), covering properties worth Rs 510 crore.In the RCOM case, the attached assets include two chartered aircraft, six land parcels and an office premises in Maharashtra, the ED said in a statement.The two aircraft are a Dassault Falcon 2000 and an Embraer.
The two aircraft are a Dassault Falcon 2000 and an Embraer.
In the RHFL and RCFL case, the agency has attached two windmills in Tamil Nadu, along with bank balances, fixed deposits and investments.The agency claimed its investigation found that the group had siphoned off public funds from banks and financial institutions, misused the Insolvency and Bankruptcy Code (IBC) to ring-fence corporate assets for personal use, and diverted funds from India to offshore tax havens.“A large part was utilised for the individual benefit of the promoters and their family,” the ED alleged, PTI reported.The agency said it has arrested 10 people in the cases and filed six chargesheets. It has also launched a separate investigation under the Foreign Exchange Management Act (FEMA).With the latest attachment, the total value of assets attached and seized in the cases has reached Rs 23,100 crore, according to the ED.