Overview

• The ED issued a look out circular preventing Anil Ambani from leaving India ahead of his scheduled August 5 appearance in Delhi.
• Partha Sarathi Biswal, MD of Biswal Tradelink Pvt Ltd, was arrested under the PMLA for allegedly facilitating fake bank guarantees worth ₹68.2 crore and receiving ₹5.4 crore from Reliance Power.
• Investigators allege that around ₹3,000 crore of Yes Bank loans granted from 2017 to 2019 were diverted through shell and group companies.
• The probe incorporates findings from CBI-registered FIRs and reports shared by SEBI, NHB, NFRA and Bank of Baroda to trace a web of inter-company transactions.
• Reliance Power and Reliance Infrastructure maintain that ED enforcement actions have not affected their operational performance or stakeholder interests.