3 weeks ago
ED files two chargesheets against Anil Ambani Group companies
This story is about companies and former bosses in India accused of taking money that was meant to be used for building roads.
A special team called the Enforcement Directorate investigates money crimes in India.
The team says it found that money from four road projects was secretly taken away.
The amount mentioned is about 187 crore rupees, which is a very large sum of money.
The team also says that in another case, money from loans meant for a phone company was not used properly.
The team wrote official reports called chargesheets explaining what it found.
These reports say big companies like Reliance Infrastructure and Reliance Communications, along with some former executives, may have been involved.
Some of the former executives are now in jail while the investigation continues.
The companies have not said anything yet, so we have only heard one side of the story so far.
A court will decide later whether these accusations are true.
The Enforcement Directorate filed a prosecution complaint before a special PMLA court in Dwarka against Reliance Infrastructure Limited, former Reliance Group executive Sateesh Seth (70) and others.
A supplementary chargesheet was filed before a special court at Rouse Avenue in the Reliance Communications Limited (RCOM) case, following the main chargesheet filed in March; RCOM, Reliance Telecom Limited and former executives Sateesh Seth, Gautam Doshi and Amitabh Jhunjhunwala are named accused.
The ED alleged about Rs 187 crore was siphoned during September-October 2010 from four NHAI-awarded toll-road projects through sham, post-facto or back-dated arrangements for fictitious sub-contracting work.
In the RCOM case, the ED quantified proceeds of crime at Rs 40,185 crore and attached assets worth Rs 8,078 crore, alleging credit facilities were fraudulently used to repay, rotate and evergreen earlier liabilities.
The articles contain a discrepancy on arrest dates: Seth is described as arrested in June and separately as arrested in July, with Doshi arrested in June; the Anil Ambani Group has yet to issue a statement.
- Who
- The Enforcement Directorate (ED) named Reliance Infrastructure Limited, Reliance Communications Limited (RCOM), Reliance Telecom Limited (RTL) and former Reliance Anil Ambani Group executives Sateesh Seth, Gautam Doshi and Amitabh Jhunjhunwala as accused.
- What
- The ED filed chargesheets in two money-laundering cases against Reliance Anil Ambani Group companies and former executives, alleging diversion of public funds from NHAI toll-road projects and fraudulent rotation of credit facilities.
- Where
- Before a special PMLA court in Dwarka and a special court at Rouse Avenue in Delhi, stemming from a Mumbai Police Economic Offences Wing FIR of February.
- When
- Chargesheets were filed on Saturday (announced Sunday); the main RCOM chargesheet was filed in March; the alleged siphoning occurred in September-October 2010; Seth and Doshi were arrested around June-July.
- Why
- Because the ED alleged public funds from four NHAI-awarded toll-road projects were diverted through shell companies, forged documents and fictitious invoices, and that loans were fraudulently rotated to repay earlier liabilities instead of their sanctioned use.
Key facts
- Agency
- Enforcement Directorate (ED)
- Companies accused
- Reliance Infrastructure Limited, Reliance Communications Limited (RCOM), Reliance Telecom Limited (RTL)
- Former executives named
- Sateesh Seth, Gautam Doshi, Amitabh Jhunjhunwala
- Alleged amount siphoned
- Rs 187 crore during September-October 2010
- Toll-road projects involved
- Trichy-Karur (NH-67), Trichy-Dindigul (NH-45), Salem-Ulundurpet (NH-68), Jaipur-Reengus (NH-11)
- Proceeds of crime (RCOM case)
- Rs 40,185 crore
- Assets attached
- Rs 8,078 crore in the RCOM case; Rs 187 crore in the toll case, including Reliance Power shares and land of Ksheeraabd Constructions
- Status of accused
- Seth and Doshi in judicial custody; Anil Ambani Group statement awaited
Quotes
Enforcement Directorate
Official spokesperson of India's Enforcement Directorate
““Approximately ₹187 crore was siphoned during September‑October 2010 through sham, post‑facto or back‑dated arrangements for fictitious sub‑contracting work.””
telegraphindia.com
““Loan proceeds were ‘diverted’ to group companies such as Reliance Infrastructure and Reliance Capital.””
telegraphindia.com
Sources
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