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The Enforcement Directorate on Tuesday said it has attached assets worth Rs 510 crore, including two aircraft, as part of an alleged bank fraud-linked money laundering investigation against the Reliance Anil Ambani Group (RAAG). The probe is related to allegations against Reliance Home Finance Limited (RHFL)/Reliance Commercial Finance Ltd. (RCFL) of Rs 263.05 crore fraud and against Reliance Communication Ltd. (RCOM) for Rs 247.12 crore fraud. A provisional order has been issued under the Prevention of Money Laundering Act (PMLA) to attach the properties worth Rs 510 crore, it said. In the RCOM case, the attached assets include 2 chartered aircraft, 6 land parcels and an office premise in Maharashtra, the ED said in a statement. In the RHFL/ RCFL case, two wind mills in Tamil Nadu, bank balances, fixed deposits and investments have been attached, it added. The aircraft are a Dassault Falcon 2000 and an Embraer. The agency claimed its probe found that the Group was involved in ..
Reliance Retail Ventures Ltd (RRVL) will 'rapidly' scale its online business, expand dark stores and strengthen omni-channel capabilities, as the retailer expects these investments to translate into higher margins and earnings growth, a top company official said. Outlining a three-year roadmap, Reliance Retail CFO Dinesh Taluja said the company will invest in the infrastructure of JioMart and omni-channel reach across platforms, even as margins have come under pressure from rising technology and dark-store investments. "We are looking at growing our online businesses pretty rapidly during this year. We will expand dark stores. We will grow our omni-channel platforms. We will grow JioMart," Taluja said in the company's earnings call. Besides, it will also focus on improving the operational metrics around availability, speed, and reliability with a market-by-market focus on achieving positive unit economics. "Each market, the unit economics, we need to have a clear path to positive u