Anil Ambani News Live Update: ED’s Actions Has ‘Absolutely No Impact’ On Business Operations, Says Reliance Power
In response to the developments, Reliance Power and Reliance Infrastructure had already issued statements to the stock exchanges on July 26, asserting that the ED’s actions had “absolutely no impact” on their business operations, financial performance, or stakeholder interests.
Anil Ambani News Live Update: Action Taken So Far
The Enforcement Directorate has written to 12-13 public-sector and private banks seeking details on due diligence followed on the loans sanctioned to Reliance Housing Finance, Reliance Communications and Reliance Commercial Finance.
The move follows raids launched by the agency on July 24 across multiple premises associated with Ambani’s companies.
ED finds complex financial transactions including quid pro quo deals with Yes Bank’s Rana Kapoor. The agency suspected kickbacks to certain bankers and investments routed through shell companies
Anil Ambani News Live Update: Complex Financial Dealings Case
The Anil Ambani case involves complex financial dealings, including alleged quid pro quo arrangements with bankers, suspicious investments routed through shell companies, and forged bank guarantees.
Anil Ambani News Live Update: Under Investigation
Currently under investigation, this massive Rs 17,000-crore default has thrust the spotlight once again on some of the largest corporate loan frauds in India’s recent history, highlighting persistent challenges in bank loan recoveries and corporate governance.
Anil Ambani News Live Update: One Of The ‘Biggest Corporate Loan Fraud’
Hello and welcome to our blog on one of the ‘biggest corporate loan fraud by Anil Ambani Group’ companies.
Reliance Group chairman Anil Ambani will today appear before probe agency Enforcement Directorate for questioning in connection with an alleged Rs 17,000 crore worth bank loan fraud-linked money laundering case.
. Read more on Business by NDTV Profit.