NEW DELHI: A day after questioning Anil Ambani of Reliance Group, Enforcement Directorate Wednesday interrogated two of his close associates - Amitabh Jhunjhunwala and Sateesh Seth - about the alleged money laundering charges against the group.
The two, as senior functionaries of the group, had important role in decision making of the conglomerate that once had significant presence in power, infra, telecommunication and financial sectors.
Sources did not disclose the nature of questions put to the two executives. Jhunjhunwala is said to have left the group a few years ago while Seth continues to work for Ambani.
ED has been conducting a money laundering investigation against Ambani and his group companies based on FIRs from CBI and the economic offences wing of Delhi Police against alleged siphoning off of bank funds and a fraud bank guarantee case.
On Tuesday, Ambani was questioned for over eight hours during which he was asked to specify foreign assets acquired by him, his associates and group entities besides other investments. He has sought a week's time to come back to the agency with the required information and documents. He may be called for another round of questioning early next week, sources indicated.
ED probe is based on inputs shared by multiple financial institutions, including the National Housing Bank, Sebi, National Financial Reporting Authority, Bank of Baroda and Canara Bank.
"Preliminary probe by ED has revealed a well-planned and thought out scheme to divert/siphon off public money by cheating banks, shareholders, investors and other public institutions. The offence of bribing bank officials, including promoter of Yes Bank Ltd, is also under the scanner," a source had told TOI.
The alleged diversion of Rs 3,000 crore loan taken from Yes Bank, during the 2017 to 2019 period, to group entities is among many irregularities being probed by the agency for which Ambani and his associates are being questioned.
Sources said ED is also looking at a dramatic increase in corporate loans by Reliance Home Finance Ltd from Rs 3,742 crore in 2017-18 to Rs 8,670 crore in 2018-19. This includes issues of "irregular and expedited approvals, process deviations & other illegalities".
The two, as senior functionaries of the group, had important role in decision making of the conglomerate that once had significant presence in power, infra, telecommunication and financial sectors.
Sources did not disclose the nature of questions put to the two executives. Jhunjhunwala is said to have left the group a few years ago while Seth continues to work for Ambani.
ED has been conducting a money laundering investigation against Ambani and his group companies based on FIRs from CBI and the economic offences wing of Delhi Police against alleged siphoning off of bank funds and a fraud bank guarantee case.
On Tuesday, Ambani was questioned for over eight hours during which he was asked to specify foreign assets acquired by him, his associates and group entities besides other investments. He has sought a week's time to come back to the agency with the required information and documents. He may be called for another round of questioning early next week, sources indicated.
ED probe is based on inputs shared by multiple financial institutions, including the National Housing Bank, Sebi, National Financial Reporting Authority, Bank of Baroda and Canara Bank.
"Preliminary probe by ED has revealed a well-planned and thought out scheme to divert/siphon off public money by cheating banks, shareholders, investors and other public institutions. The offence of bribing bank officials, including promoter of Yes Bank Ltd, is also under the scanner," a source had told TOI.
The alleged diversion of Rs 3,000 crore loan taken from Yes Bank, during the 2017 to 2019 period, to group entities is among many irregularities being probed by the agency for which Ambani and his associates are being questioned.
Sources said ED is also looking at a dramatic increase in corporate loans by Reliance Home Finance Ltd from Rs 3,742 crore in 2017-18 to Rs 8,670 crore in 2018-19. This includes issues of "irregular and expedited approvals, process deviations & other illegalities".
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