New Delhi, July 24 -- Enforcement Directorateon Thursday raided several premises in Mumbai linked to Anil Ambani days after SBI declared him 'fraud'. Around 35 premises, 50 Companies and over 25 persons are being searched under PMLA.

ED sources said, as reported by ANI, "Subsequent to recording of FIRs by CBI , ED started investigating the alleged offence of Money Laundering by RAAGA Companies (Reliance Anil Ambani Group Companies). Other agencies & institutions also shared information with ED, such as- The National Housing Bank, SEBI, National Financial Reporting Authority (NFRA), Bank of Baroda."

"Preliminary investigation by ED has revealed well-planned and thought after scheme to divert/ siphon off public money by cheating banks, sh...