Delhi, 24 July (H.S.): The Enforcement Directorate (ED) is carrying out raids in Delhi and Mumbai linked to Anil Ambani's Reliance Group amid a money laundering investigation prompted by two CBI FIRs alleging significant financial irregularities.

The operation encompasses over 50 companies and involves questioning more than 25 individuals across about 35 locations. Initial findings indicate a scheme to misappropriate public funds, defrauding banks and investors, with suspicions of bribery among senior Yes Bank officials to secure large unsecured loans.

From 2017 to 2019, Yes Bank provided roughly Rs 3,000 crore in loans to RAAGA companies connected to the Reliance Group, amid concerns over undocumented loans and questionable financial credentials. Regulatory bodies, including SEBI and SBI, have provided insights pointing to fraud and irregularities in financial dealings related to Reliance Communications and Home Finance Limited.

---------------

Hindusthan Samachar / Jun Sarkar