Anil Ambani Not On Boards Of Companies Says Statement After ED Raids His 35 Properties

The Anil Ambani-led Reliance Power and Reliance Infrastructure issued a statement on Thursday that raids carried out by the Enforcement Directorate (ED) “have absolutely no impact on the business operations, financial performance, shareholders, employees, or any other stakeholders of the companies”. “The media reports appear to pertain to allegations concerning transactions of Reliance Communications Limited…

Welcome to Victoria: the insolvency state

The state of Victoria’s financial woes is well documented. In 2023-24, the state had the nation’s largest per capita net debt and the lowest credit rating (AA). Per capita state debt was only $3,600 in Labor’s first budget in 2015. It has since climbed to $21,900 and is projected over the budget forward estimates to…

Reliance Power issues clarification: ED raids against Anil Ambani group companies; here’s what the company said

The ED raids pertain to an alleged bank loan fraud worth Rs 3,000 crore against Reliance Group chairman Anil Ambani’s companies. The Enforcement Directorate on Thursday conducted simultaneous raids in connection with an alleged money laundering case involving bank loan fraud worth Rs 3,000 crore against Reliance Group chairman Anil Ambani‘s companies, according to a…