ED alleges 11600 crore proceeds of crime in Reliance finance probe over shell routing

Almost 90 percent of corporate loans were routed via shells

The Enforcement Directorate has alleged more than ₹11,600 crore as proceeds of crime in a money laundering probe involving Reliance Home Finance and Reliance Commercial Finance. The agency claims public funds were diverted through shell entities and that nearly 90% of corporate loans were routed to such companies. ED also arrested key functionaries Amitabh Jhunjhunwala and Amit Bapna for questioning.