Copyright republicworld
Mumbai: Amidst large-scale Enforcement Directorate's (ED) action, Reliance Infrastructure has issued a clarification assuring that the central agency's action will not impact its business operations, shareholders, employees, or any other stakeholders. The company has also clarified that Anil Ambani, the promoter of Reliance Infrastructure, has not been on the board of the company for more than 3.5 years. According to a statement issued by Reliance Infra, the ED's action pertains to certain assets of the company that have been provisionally attached for alleged PMLA violations. Reliance Infra has found itself at the centre of a money laundering investigation by the Enforcement Directorate (ED). The company's assets have been provisionally attached by the ED for alleged violations under the Prevention of Money Laundering Act (PMLA). The action was a massive setback for the company, which has been grappling with various challenges in recent times.The ED's investigation into Reliance Infrastructure is part of a probe into alleged financial irregularities and money laundering activities involving various entities linked to the Anil Ambani group. The agency has been scrutinising the company's transactions and dealings, including its involvement in various infrastructure projects and financial arrangements.Reliance Infrastructure has been facing various challenges in recent times, including debt restructuring and regulatory issues. Further details regarding the latest development are awaited.
