By Admin 
The Enforcement Directorate (ED) on Thursday raided 40-50 locations related to Anil Ambani to investigate the money laundering related to the Rs 3,000 crore Yes Bank Loan Fraud case. The ED says that these money received as a loan has been diverted in alleged fake companies and other companies of the group.
These searches under Section 17 of the Prevention of Money Laundering Act (PMLA) were done on the basis of two FIRs lodged by the CBI and on the information given by SEBI, National Housing Bank, Bank of Baroda and National Financial Reporting Authority (NFRA). In the ED investigation, some big officials and promoters of the bank have also been revealed to bribe in lieu of sanctioning heavy loans.
In the investigation, the ED has also mentioned a disturbance in the loan approval process of Yes Bank, including back-dated credit documents, already loans credited already of approval, also giving loans to forms with weak financial and general directors.
Investors confident from Anil Ambani’s company
This investigation of ED includes more than 50 companies and 25 officers. Apart from this, SEBI gave several information related to Reliance Home Finance Limited (RHFL) separately and said that the company’s corporate loan book has exceeded double within a year. Here, due to all this, the sentiments of investors towards Anil Ambani’s companies have weakened, due to which both Reliance Infra and Reliance Power are seen selling in shares.
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On the other hand, ED raided, rolled here Reliance Power and Reliance Infra shares; Company gave cleaning