ED seizes assets worth over ₹2,000 crore linked to Reliance Power Ltd. under FEMA
India’s Enforcement Directorate has seized assets valued at more than ₹2,000 crore that it says are connected to Reliance Power Ltd. The agency alleges the funds were used as collateral for loans granted to companies incorporated in the British Virgin Islands, which were allegedly controlled and managed from India by the Reliance Anil Ambani Group through front persons, according to the ED.