The Enforcement Directorate (ED) has formed a Special Investigation Team (SIT) to probe several cases related to industrialist Anil Dhirubhai Ambani. According to reports, this step has been taken by the Enforcement Directorate in compliance with the directions of the Supreme Court. The SIT will conduct a comprehensive investigation into various financial transactions, money laundering related cases and other economic irregularities linked to Anil Dhirubhai Ambani Group (ADAG).
The SIT is headed by an officer of the rank of Additional Director.
The ED has constituted a Special Investigation Team (SIT) to probe the Rs 40,000 crore banking and corporate fraud case involving Anil Dhirubhai Ambani Group (ADAG) and its related entities. Sources in the investigating agency said the SIT will be headed by an Additional Director rank officer and will include about half a dozen other investigators.
The Supreme Court, while reviewing the cases against ADAG last week, had directed the ED to constitute a Special Investigation Committee which would conduct an impartial, independent, speedy and neutral investigation into the case. The top court had also asked the CBI, which is already investigating the ADAG cases, to look into the angle of collusion, collusion and conspiracy in this case and take its investigation to its logical conclusion.
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ED has been investigating since last year
The ED has been investigating Anil Ambani and his Reliance group of companies since last year and has so far filed three Enforcement Case Information Reports (ECIRs) under the PMLA. This is the ED report equivalent to a police FIR. The ED has also seized assets worth Rs 12,000 crore. According to sources, the SIT may file more ECIRs against ADAG group companies and their officials to probe alleged illegal and suspicious financial transactions.
Anil Ambani has been interrogated
ED had questioned Anil Ambani last year in connection with alleged bank loan irregularities of his group companies. Puneet Garg, a former top company official and former chairman of RCom, was recently arrested by the ED. Anil Ambani group companies have denied any irregularities in the past.
These companies are accused of misuse of public funds
The ED had earlier said that it had found evidence of ‘fraudulent misuse’ of public funds by various companies of Reliance Anil Ambani group.
- Reliance Communications Limited
- Reliance Home Finance Limited (RHFL)
- Reliance Commercial Finance Limited (RCFL)
- Reliance Infrastructure Limited (RIL)
- Reliance Power Limited (RHFL)
