https://www.taxtmi.com/news?id=51186 Enforcement Directorate summons Reliance Group chairman under the Prevention of Money Laundering Act to record statement in an investigation alleging large scale diversion of bank loans into group and shell companies. The probe targets alleged credit approval irregularities, absence of due diligence, contemporaneous payments to bank promoters, and diversion of sanctioned funds, and draws on FIRs and regulatory reports while also examining potential undisclosed foreign assets and suspected quid pro quo investments in bank capital instruments. en-us Fri, 01 Aug 2025 08:31:03 +0530 Fri, 01 Aug 2025 08:31:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=51186 Enforcement Directorate summons Reliance Group chairman under the Prevention of Money Laundering Act to record statement in an investigation alleging large scale diversion of bank loans into group and shell companies. The probe targets alleged credit approval irregularities, absence of due diligence, contemporaneous payments to bank promoters, and diversion of sanctioned funds, and draws on FIRs and regulatory reports while also examining potential undisclosed foreign assets and suspected quid pro quo investments in bank capital instruments. News - Fri, 01 Aug 2025 08:31:03 +0530 https://www.taxtmi.com/news?id=51186