India, July 24 -- The Enforcement Directorate on Thursday conducted raids on around 35 premises linked to the Reliance Anil Ambani Group in connection with an ongoing money laundering investigation.

According to officials, the searches are being carried out under the Prevention of Money Laundering Act (PMLA) across multiple cities, targeting over 50 companies and more than 25 individuals associated with the group.

The simultaneous raids were part of ED's investigation linked to allegations of illegal loan diversion amounting to around Rs.3,000 crore from Yes Bank to Reliance Anil Ambani Group companies between 2017 and 2019, according to ED sources cited by news agency PTI.

Officials said the agency has found that money was transferred...