Representative image NEW DELHI: The Enforcement Directorate has informed Supreme Court that NBFC entities of Reliance ADAG – Reliance Home Finance Ltd and Reliance Commercial Finance Ltd – had siphoned off parts of Rs 15,500 crore, they had raised from banks, through “an intricate network of 53 shell and group entities under control of R-ADAG”.ED sources said the agency gave details of the investigation carried out against different R-ADAG companies in the alleged siphoning scam to a bench led by CJI Surya Kant Monday. It said the ongoing probe found that 35 banks and financial institutions lent money to the two banks without proper documentation or credible credit appraisal. So far, assets worth Rs 5,500 crore have been attached.Sources said Reliance Communications (RCom) group companies diverted parts of over Rs 40,000 crore they had raised from 2007 onwards, ” towards acquisition of a luxury yacht ‘Tian’ and a luxury condominium in Manhattan, New York”. They claimed these assets were subsequently sold during the Corporate Insolvency Resolution Process, and the sale proceeds were allegedly diverted to Dubai. RCom’s assets worth approximately Rs 15,000 crore have been attached. In both cases, group MDs – Amitabh Jhunjhunwala and Gautam Doshi – have been arrested with other top officials, they said.Agency sources said they had detected Rs 200 crore of public funds being siphoned off in connection with NHAI tenders by Reliance Infrastructure Ltd. In connected FEMA proceedings, the adjudicating authority has confirmed seizure of approximately Rs 77 crore.They said Reliance Power Ltd had furnished a forged bank guarantee issued by a non-existent foreign bank for participation in a tender and it led to loss of Rs 105 crore to the exchequer.Since April 28, the agencies have carried out 19 search operations and ED has attached properties worth Rs 1,021 crore. ED has filed an additional prosecution complaint in the RHFL-RCFL matter, where proceeds of crime were quantified at Rs 15,548 crore after verifying the complete trail of funds. As many as 55 people have been arraigned as accused in the complaint, ED said. It added so far, assets valued at Rs 20,367 crore have been attached, including Anil Ambani’s residence at Pali Hill, Mumbai, Reliance Centre properties in Delhi and Mumbai, and shareholding in flagship companies including R-Infra and Reliance Power.Get the latest India news and live updates. Download the TOI App.End of ArticleFollow Us On Social MediaVideos5 Plots, 4 Flats, Villa: ACB Raid On HMDA Engineer Exposes Rs 9.24 Crore Assets | HyderabadIndia-UK Trade Deal Kicks In From July 15, 99% Of Indian Exports Get Duty-Free AccessSupreme Court Refuses Stay In Bhojshala Case, Allows Alternate Namaz Site Till Final VerdictOp Vijay: How India Captured Tololing And Point 5140 Before Tiger HillAssam’s Tinsukia Uses CCTV And LED Screens To Shame Alleged Public Urinators’Brazenly Violated Our Order’: Supreme Court Imposes ₹3 Lakh Fine On Comedian Samay RainaCalls For Wangchuk To Call Off Hunger Strike Grow: Politicians, Actors, Even Dipke Issue Appeals₹198 Crore, 8 Criminal Cases: What Prashant Kishor’s Bankipur Bypoll Affidavit RevealsIron Rods Hurled, Car Windows Smashed As Family Chased For 15 Km After Harassment RowViral Video Claims Pensioner’s Bank Account Showed Rs 759 Crore, Raises Questions Over Glitch123PhotostoriesExclusive – Sunita Ahuja on Govinda’s alleged affairs and why she chose forgiveness; says ‘Why should I walk away if I love my husband? Kaun sa hero doodh ka dhula hai’From gold mines to desert ruins; 5 real ghost towns across America that look frozen in timeThink you know cows? These 5 surprising facts say otherwise8 ways to stop overthinking before it steals your peace of mindAlia Bhatt serves gothic glam in an all-black look as she joins Sohum Shah for ‘Tumbbad 2’Your kidneys could be losing function for years before creatinine rises; Doctor explains the silent damage most people never notice10 literary baby names inspired by Shakespeare’s timeless playsAvoiding sweets but blood sugar still rising? These overlooked daily habits could be the real reason, says doctor“Children need more than just parents to grow”: Kajol on why she sent her daughter to a boarding schoolHPV vaccine can prevent most cervical cancer cases: What every parent and young woman should know before deciding123Hot PicksNEET recorded responseRSCIT admit cardGold rate todayITR filingOil Price TodaySonam Wangchuk hunger strikeS. JaishankarWayanad LandslideStrait of HormuTop TrendingKarnataka Black MagicVietnam Boat TragedyITR filingFIFA World Cup 2026Tamil Nadu Steel Melting UnitGhaziabad Mall Rape MurderDelhi Police Wife MurderSharad PawarJharkhand RapeIran war

Representative image NEW DELHI: The Enforcement Directorate has informed Supreme Court that NBFC entities of Reliance ADAG – Reliance Home Finance Ltd and Reliance Commercial Finance Ltd – had siphoned off parts of Rs 15,500 crore, they had raised from banks, through “an intricate network of 53 shell and group entities under control of R-ADAG”.ED sources said the agency gave details of the investigation carried out against different R-ADAG companies in the alleged siphoning scam to a bench led by CJI Surya Kant Monday. It said the ongoing probe found that 35 banks and financial institutions lent money to the two banks without proper documentation or credible credit appraisal. So far, assets worth Rs 5,500 crore have been attached.Sources said Reliance Communications (RCom) group companies diverted parts of over Rs 40,000 crore they had raised from 2007 onwards, ” towards acquisition of a luxury yacht ‘Tian’ and a luxury condominium in Manhattan, New York”. They claimed these assets were subsequently sold during the Corporate Insolvency Resolution Process, and the sale proceeds were allegedly diverted to Dubai. RCom’s assets worth approximately Rs 15,000 crore have been attached. In both cases, group MDs – Amitabh Jhunjhunwala and Gautam Doshi – have been arrested with other top officials, they said.Agency sources said they had detected Rs 200 crore of public funds being siphoned off in connection with NHAI tenders by Reliance Infrastructure Ltd. In connected FEMA proceedings, the adjudicating authority has confirmed seizure of approximately Rs 77 crore.They said Reliance Power Ltd had furnished a forged bank guarantee issued by a non-existent foreign bank for participation in a tender and it led to loss of Rs 105 crore to the exchequer.Since April 28, the agencies have carried out 19 search operations and ED has attached properties worth Rs 1,021 crore. ED has filed an additional prosecution complaint in the RHFL-RCFL matter, where proceeds of crime were quantified at Rs 15,548 crore after verifying the complete trail of funds. As many as 55 people have been arraigned as accused in the complaint, ED said. It added so far, assets valued at Rs 20,367 crore have been attached, including Anil Ambani’s residence at Pali Hill, Mumbai, Reliance Centre properties in Delhi and Mumbai, and shareholding in flagship companies including R-Infra and Reliance Power.Get the latest India news and live updates. Download the TOI App.End of ArticleFollow Us On Social MediaVideos5 Plots, 4 Flats, Villa: ACB Raid On HMDA Engineer Exposes Rs 9.24 Crore Assets | HyderabadIndia-UK Trade Deal Kicks In From July 15, 99% Of Indian Exports Get Duty-Free AccessSupreme Court Refuses Stay In Bhojshala Case, Allows Alternate Namaz Site Till Final VerdictOp Vijay: How India Captured Tololing And Point 5140 Before Tiger HillAssam’s Tinsukia Uses CCTV And LED Screens To Shame Alleged Public Urinators’Brazenly Violated Our Order’: Supreme Court Imposes ₹3 Lakh Fine On Comedian Samay RainaCalls For Wangchuk To Call Off Hunger Strike Grow: Politicians, Actors, Even Dipke Issue Appeals₹198 Crore, 8 Criminal Cases: What Prashant Kishor’s Bankipur Bypoll Affidavit RevealsIron Rods Hurled, Car Windows Smashed As Family Chased For 15 Km After Harassment RowViral Video Claims Pensioner’s Bank Account Showed Rs 759 Crore, Raises Questions Over Glitch123PhotostoriesExclusive – Sunita Ahuja on Govinda’s alleged affairs and why she chose forgiveness; says ‘Why should I walk away if I love my husband? Kaun sa hero doodh ka dhula hai’From gold mines to desert ruins; 5 real ghost towns across America that look frozen in timeThink you know cows? These 5 surprising facts say otherwise8 ways to stop overthinking before it steals your peace of mindAlia Bhatt serves gothic glam in an all-black look as she joins Sohum Shah for ‘Tumbbad 2’Your kidneys could be losing function for years before creatinine rises; Doctor explains the silent damage most people never notice10 literary baby names inspired by Shakespeare’s timeless playsAvoiding sweets but blood sugar still rising? These overlooked daily habits could be the real reason, says doctor“Children need more than just parents to grow”: Kajol on why she sent her daughter to a boarding schoolHPV vaccine can prevent most cervical cancer cases: What every parent and young woman should know before deciding123Hot PicksNEET recorded responseRSCIT admit cardGold rate todayITR filingOil Price TodaySonam Wangchuk hunger strikeS. JaishankarWayanad LandslideStrait of HormuTop TrendingKarnataka Black MagicVietnam Boat TragedyITR filingFIFA World Cup 2026Tamil Nadu Steel Melting UnitGhaziabad Mall Rape MurderDelhi Police Wife MurderSharad PawarJharkhand RapeIran war


ADAG companies siphoned off loan money via 53 shell firms: ED

NEW DELHI: The Enforcement Directorate has informed Supreme Court that NBFC entities of Reliance ADAG – Reliance Home Finance Ltd and Reliance Commercial Finance Ltd – had siphoned off parts of Rs 15,500 crore, they had raised from banks, through “an intricate network of 53 shell and group entities under control of R-ADAG”.ED sources said the agency gave details of the investigation carried out against different R-ADAG companies in the alleged siphoning scam to a bench led by CJI Surya Kant Monday. It said the ongoing probe found that 35 banks and financial institutions lent money to the two banks without proper documentation or credible credit appraisal. So far, assets worth Rs 5,500 crore have been attached.Sources said Reliance Communications (RCom) group companies diverted parts of over Rs 40,000 crore they had raised from 2007 onwards, ” towards acquisition of a luxury yacht ‘Tian’ and a luxury condominium in Manhattan, New York”. They claimed these assets were subsequently sold during the Corporate Insolvency Resolution Process, and the sale proceeds were allegedly diverted to Dubai. RCom’s assets worth approximately Rs 15,000 crore have been attached. In both cases, group MDs – Amitabh Jhunjhunwala and Gautam Doshi – have been arrested with other top officials, they said.Agency sources said they had detected Rs 200 crore of public funds being siphoned off in connection with NHAI tenders by Reliance Infrastructure Ltd. In connected FEMA proceedings, the adjudicating authority has confirmed seizure of approximately Rs 77 crore.They said Reliance Power Ltd had furnished a forged bank guarantee issued by a non-existent foreign bank for participation in a tender and it led to loss of Rs 105 crore to the exchequer.Since April 28, the agencies have carried out 19 search operations and ED has attached properties worth Rs 1,021 crore. ED has filed an additional prosecution complaint in the RHFL-RCFL matter, where proceeds of crime were quantified at Rs 15,548 crore after verifying the complete trail of funds. As many as 55 people have been arraigned as accused in the complaint, ED said. It added so far, assets valued at Rs 20,367 crore have been attached, including Anil Ambani’s residence at Pali Hill, Mumbai, Reliance Centre properties in Delhi and Mumbai, and shareholding in flagship companies including R-Infra and Reliance Power.



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