logo
Enforcement Directorate searches are over, say Reliance Group companies

Enforcement Directorate searches are over, say Reliance Group companies

The Hindua day ago
Reliance Group firms Reliance Infrastructure (RInfra) and Reliance Power (RPower) on Sunday (July 27, 2025) said the Enforcement Directorate (ED) had concluded searches on their premises and that the companies would continue to cooperate with the agency.
Both the Anil Ambani-led group's companies said they, including their officials, would continue to fully cooperate with the ED. They said that the said action had no impact on their business operations.
RInfra said, 'Action by ED has no impact on the business operations, financial performance, shareholders, employees, or any other stakeholders of the company. The same appears to pertain to allegations concerning transactions of Reliance Communications Limited (RCOM) or Reliance Home Finance Limited (RHFL), which are over 10 years old. Reliance Infrastructure is a separate and independent listed entity with no business or financial linkage to RCOM or RHFL.'
'RCOM is undergoing Corporate Insolvency Resolution Process as per the Insolvency and Bankruptcy Code, 2016, since over six years,' it said.
RPower also said the same, adding that the company continued to operate in its normal course and that the said action had no impact on its business operations.
The ED began searching multiple premises linked to the group on Thursday (July 24, 2025) over alleged money laundering and financial irregularities, running into crores of rupees, and the searches continued for the third day on Saturday (July 27, 2025).
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Google execs appear before ED in online betting case
Google execs appear before ED in online betting case

Time of India

time4 hours ago

  • Time of India

Google execs appear before ED in online betting case

NEW DELHI: Officials of Google appeared before Enforcement Directorate (ED) Monday with documents in an ongoing money laundering case against some betting websites and online shopping fraud. Meta, which is also being probed in the same case, is yet to send its representatives. Both social media platforms are being investigated by ED for hosting advertisements on their platforms for illegal betting sites and online shopping frauds. They were to appear before the agency on July 21 but requested it to defer the proceedings by a week. The betting sites, which are at the centre of the investigation, have allegedly collected hundreds of crores from Indian citizens by engaging in "illegal" activities. In a statement in Jan, ED had said scammers post ads on platforms like Google, Facebook, Instagram and WhatsApp, inviting people to bet. Earlier, the probe agency had attached assets worth Rs 337 crore in a crackdown on illegal betting related to the Lok Sabha results of 2024 and unauthorised broadcast of IPL cricket matches. In online shopping fraud, scammers attract people with "offers of very cheap products found via Google or social media platforms like Facebook and Instagram. Victims receive a purchase link on WhatsApp, register, and pay for the item. The fraudsters then demand additional payments, citing reasons such as customs duties and delivery charges. In the end, the victim loses their money and never receives the purchased item".

Two nuns held in Chhattisgarh over 'conversion bid, trafficking'
Two nuns held in Chhattisgarh over 'conversion bid, trafficking'

Time of India

time4 hours ago

  • Time of India

Two nuns held in Chhattisgarh over 'conversion bid, trafficking'

RAIPUR: Three people, including two nuns, were arrested from Durg station in BJP-governed Chhattisgarh on charges of trafficking three tribal girls, all under 23, from Maoist-affected Narayanpur and attempting their religious conversion under the guise of giving them nursing jobs in Agra. The arrests on July 25 followed a complaint from a Bajrang Dal worker, sparking a political storm with Congress alleging that minorities were being targeted under the BJP-led administration. But CM Vishnu Deo Sai justified the action, claiming this was a case of "human trafficking under the guise of religious conversion". Those arrested were identified as Sister Preeti Mary (45) and Sister Vandana Francis (50), both from a Kerala denomination, and Sukaman Mandavi (19) from Narayanpur. A GRP official claimed the tribal women were brought to Durg station by Mandavi without intimation to gram panchayat officials in their Narayanpur village and written consent from their parents. The three accused were produced before a local court and sent to jail on judicial remand. The tribal women were sent to Sakhi Centre, a govt shelter. Lok Sabha LoP Rahul Gandhi alleged that arrests pointed to "BJP-RSS mob rule". "Two Catholic nuns jailed in Chhattisgarh after being targeted for their faith. This isn't justice. It reflects a dangerous pattern, systematic persecution of minorities. We demand their immediate release," he said on X.

From teens to seniors: Fraudsters customize scams by age in AP
From teens to seniors: Fraudsters customize scams by age in AP

Time of India

time4 hours ago

  • Time of India

From teens to seniors: Fraudsters customize scams by age in AP

Visakhapatnam: Cybercrooks in Andhra Pradesh are turning increasingly tech-savvy, tailoring scams to match the age and vulnerabilities of their targets, according to the state's cybercrime police. Each age group is susceptible to distinct cyber financial frauds, enabling scammers to siphon off lakhs to crores from unsuspecting victims. Youngsters aged 20–25, particularly students and unemployed youth, are being lured with fake online and overseas job offers promising attractive pay, flexible hours, and career growth. Fraudsters share links to bogus portals, tricking victims into divulging personal information or making advance payments. Inspector of cybercrime police station, Vizag, K Bhavani Prasad said working professional between 30 and 45 years fall prey to investment scams. With aspirations to grow their income, individuals are often targeted with fraudulent stock market tips, crypto investment traps, and high-return promises. Scams promising easy profits are particularly aimed at those seeking financial advancement, with many receiving misleading messages and advertisements. Regulatory bodies have repeatedly cautioned investors to remain vigilant, but the prevalence of such fraudulent schemes continues to rise, causing significant losses and distrust among the public, he added. On average, more than 300 cybercrimes are being reported each month in Andhra Pradesh. Among various types of cybercrimes, victims are suffering significant financial losses, with amounts ranging from Rs10 lakh to Rs one crore in each reported case of investment fraud. Notably, it has come to light that some high-profile individuals who have fallen prey to investment frauds are choosing not to lodge complaints, often due to feelings of embarrassment, said a senior police officer. Senior citizens aged 60 to 70 are increasingly falling prey to digital arrest scams. Fraudsters, masquerading as government or law enforcement officials (CBI, ED, Customs and others), are contacting victims, levelling accusations of serious crimes and subsequently extorting money on the pretext of helping them avoid legal trouble. Cities like Vizag, Vijayawada, Tirupati and Kurnool cities in the state contribute around 40 to 50 per cent of Andhra Pradesh's cybercrime cases. "Despite a decrease in physical crimes like thefts, robbery and assault, white-collar cybercrime is on the rise in the state and the cybercrooks have been coming up with new means of duping people to the tune of crores" . "We're focusing on advanced technological tools to curb such offenses," a senior police offier said.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store