India, July 24 -- The Enforcement Directorate (ED) on Thursday carried out extensive raids at 35 locations across India as part of a probe into alleged loan fraud involving companies of Anil Ambani-led Reliance Anil Dhirubhai Ambani Group (ADAG).

As previously reported by Hindustan Times, citing officials familiar with the matter, the searches were conducted at premises linked to over 50 companies and 25 individuals.

The raids are part of a money laundering investigation initiated under the Prevention of Money Laundering Act (PMLA), based on two FIRs originally filed by the Central Bureau of Investigation (CBI) in September 2022.

The CBI cases pertain to loans extended by Yes Bank to Reliance Home Finance Ltd (RHFL) and Reliance Commer...