New Delhi: The Enforcement Directorate said it had attached a flat in Usha Kiran Building in Mumbai belonging to industrialist Anil Ambani and a Khandala farmhouse held jointly by his son Jai Anshul Ambani, under a Rs.3,034-crore attachment order in case of alleged bank fraud and linked money laundering probe against Reliance Communications. The attachment also included a land parcel in Ahmedabad’s Sanand area in the name of Mudra Foundation for Communications Research and Education (MICA).
With the latest action, the total attachment of properties in the cases against the Reliance Anil Ambani Group stands at Rs.19,344 crore. The Group is being investigated by the ED on charges of bank fraud and diversion of funds.
Reliance Communications (RCOM) is a company of the Reliance Anil Ambani Group (RAAG). According to a RAAG spokesperson, some of the attached properties belong to Kokilaben D. Ambani, Anil Ambani’s mother.
The money laundering case was registered from a clutch of CBI FIRs lodged on the basis of the complaints of State Bank of India, Punjab National Bank, Bank of Baroda and Life Insurance Corporation of India against RCOM, Anil Ambani and others.
RCOM and its group companies availed loans from domestic and foreign lenders, of which Rs.40,185 crore is outstanding, the ED said.
The central agency said a flat in Usha Kiran Building at Cumballa Hill in South Mumbai belonging to Anil Ambani, a farmhouse in Pune’s hill station of Khandala held in the name of Ambani’s son Jai Anshul Ambani and Luna Trust, and a land parcel in Ahmedabad’s Sanand area in the name of Mudra Foundation for Communications Research and Education (MICA) have been attached.
The attachment also includes 7.71 crore shares of Reliance Infrastructure Ltd, held by Risee Infinity, a group entity of Anil Ambani under the RiseE Trust umbrella. The ED said this was a private family trust of Anil Ambani.
It stated that the RiseE Trust was established to “ensure” wealth preservation and resource generation by aggregating properties within the Trust and shielding it from the personal liabilities of Anil Ambani in the form of personal guarantees extended by him to lender banks against the loans sanctioned to RCOM.
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