The Enforcement Directorate has filed a charge sheet against 55 individuals, including former Reliance senior executives, in a bank loan fraud and money laundering case. The case involves Reliance Home Finance and Reliance Commercial Finance. The charge sheet will be presented for consideration on July 1.
The Enforcement Directorate’s searches at Vedanta Group premises have sent shockwaves through the market, causing Vedanta and Hindustan Zinc shares to decline significantly in early trade. Investor sentiment has turned cautious amid concerns over potential regulatory scrutiny and alleged foreign exchange violations.
Former ED Special Director Satyabrata Kumar has opted for voluntary retirement, raising concerns about the impact on ongoing investigations and the ED’s ability to tackle high-profile cases like Nirav Modi and Vijay Mallya.
