Reliance Power denies ED searches after reports of raids at Anil Ambani-linked locations

Reliance Power on Friday said no searches have been carried out at any of its offices or premises, responding to media reports that the Enforcement Directorate (ED) conducted raids at locations linked to the company.

In a clarification filed with stock exchanges, the company said that to the best of its knowledge, no such action has taken place at its offices or premises.

“This is in reference to various media reports alleging that the Enforcement Directorate has conducted raids at locations linked to Reliance Power Limited. In this regard, the Company would like to clarify that, to the best of its knowledge, no such action has been carried out at any of the offices or premises of the Company,” it said in the filing.

Earlier in the day, a PTI report, citing ED officials, said the agency conducted searches at multiple locations in Mumbai and Hyderabad as part of an investigation involving Reliance Power, a group company of businessman Anil Ambani.

According to the report, about 10–12 locations linked to the company and its executives were searched by around 15 teams of the agency.

The ED is probing multiple companies linked to Ambani as part of an alleged bank fraud-linked money laundering case, apart from financial irregularities under the Foreign Exchange Management Act (FEMA).

Ambani, 66, has been questioned twice by the ED under the Prevention of Money Laundering Act in connection with the investigation.

The agency has also formed a special investigation team (SIT) to probe cases against companies of the Anil Dhirubhai Ambani Group (ADAG) following directions from the Supreme Court.

According to information furnished by the ED to the apex court, three money laundering cases have been registered against the group to investigate alleged bank loan fraud and other financial irregularities.