The Enforcement Directorate (ED) on Thursday carried out searches at multiple locations in Mumbai connected to industrialist Anil Ambani’s companies, days after the State Bank of India (SBI) classified Reliance Communications and Ambani himself as ‘fraud’. While his personal residence wasn’t searched, ED teams from Delhi and Mumbai targeted premises tied to Reliance Anil Ambani Group (RAAGA) companies in connection with an ongoing money laundering investigation.
00:00We'll kick start this edition with some news just coming in.
00:09Searchers are on at businessman Anil Ambani's premises in Mumbai city by the Enforcement Direct Trade.
00:16Residents not covered with premises linked to some of his companies have been covered.
00:21Teams, we understand, from Delhi and Mumbai are carrying out these searches.
00:25Essentially, we're reporting on raids that are underway at this point in time, involving businessman Anil Ambani.
00:36I'm going to go straight across to Devesh for more details on that.
00:39Devesh, what more can you tell us about these raids in connection with what violation are these raids being carried out?
00:47Well, Seha, we just have a primary information as of now that social directory teams from Delhi have arrived in Mumbai and they've reached premises linked to Anil Ambani.
00:59In Mumbai, these are premises linked to his company.
01:03Remember, the residents and other premises are not covered, but only premises linked to some companies are covered.
01:09And that is where ED is conducting this action, ED is conducting some searches.
01:15We are yet to get more information on what the case really is about, but we have confirmation that ED teams from Delhi and who are being assisted by the Mumbai team
01:29have reached premises linked to Anil Ambani, industrialist Anil Ambani in Mumbai and nearby areas where the action has begun.
01:36Since morning, these teams are, what we hear, what we've heard from our sources is that these teams are from Enforcement Directorate, Delhi's own team.
01:49But we are yet to get more details regarding what is the case about, whether it is a PMLA case, whether it is a FEMA-related issue.
01:57We are yet to get more details regarding that.
01:59Remember, Anil Ambani has been questioned by ED earlier also.
02:03In the Yes Bank case and regarding a FEMA violation also, he's been questioned by Enforcement Directorate twice earlier also.
02:10Alright, I'm going to leave it there for the moment.
02:12Getting in those details is my colleague Devir Singh from Mumbai City.
