Mumbai, 26 July (HS): The search operations at more

than 35 places connected to Anil Ambani’s Reliance Group continued even after

48 years on Saturday. The Enforcement Directorate’s raids are related to

alleged loan fraud and money laundering by the Reliance Group companies. The

place in Mumbai were raided on Thursday morning.

In a statement issued by Reliance Power and

Reliance Infrastructure stated that the raids are related to old cases of other

companies. The two companies are not connected to the cases and the raids. The

Reliance Group of Anil Ambani is not connected to the allegations of loan fraud,

bribery and money laundering cases.

According to the sources, the National Housing Bank,

Securities and Exchange Board of India (SEBI), National Financial Reporting

Authority (NFRA), and Bank of Baroda shared information about the involvement of

many companies in the cases of loan fraud, bribery, and money laundering. Agencies

connected to the Yes Bank promoters and officers of the Yes Bank and the

beneficiary companies are under the scanner of the ED. The ED is also investigating the connection between Yes Bank promoters and companies of the Anil Ambani Group.

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Hindusthan Samachar / Ajay Vasant Mardikar