The Directorate for Enforcement of Law convened the Chairman of the Reliance Group Anil Ambani for questioning on August 5th in the case of washing money associated with the alleged fraud of bank loans worth CRORES RUPIs against his group companies was cited on Friday by official resources.
The news agency said the federal probe also issued a lookout tower against a 66 -year -old entrepreneur to prevent him from traveling abroad.
Also read | Why did Ed release a lookout tower against Anil Ambani: All we know
Anil Ambani was asked to depose at the ED headquarters in Delhi 5. August because the case was registered there.
The agency shall record its statements under the Money Laundering Act (PMLA) as soon as it settles, he said. Over the next few days, some Ambani Group executives were also convened.
The summons came after the federal agency made a search in 35 premises of 50 companies and 25 people, including the executives of its business group, last week. Search, started on July 24th, continued for three days.
The event concerns alleged financial discrepancies and “diversion” of a collective loan £17 000 crore from several Anil Ambani Group, including Reliance infrastructure (R Infra).
What is the lookout tower?
An ancient lookout tower is a letter used by the authorities in India to check if the police are looking for a travel person. It can also be used in immigration checks on international borders such as airports or naval ports.
Lookout circuits are open to search for escapes and also prevent and effectively prevent the entry or output of anyone who can find coercive organs. After the release they are sent to all immigration checkpoints in the country. LOC is a valid initial period of one year, but can be extended.
What is the purpose of the lookout tower?
LOCs are primarily focused on individuals to leave the country to avoid legal action, investigation or arrest.
What is the process?
The Office for Immigration (Boi) of the Ministry of Home is the only agency.
According to the official memorandum on the Ministry of Internal Affairs (MHA), data such as the first information report (FIR) and the court number must be obliged to be provided on behalf of the LOC.
Also read | Anil Ambani has banned leaving India because ED releases in the case of fraud
Since the immigration positions are operated by Boi officials, the first respondents are performing LOCS by stopping, detaining or informing an individual issuing an agency.
Who will release Loc?
Different authorities can issue a LOC, including police officers over a certain rank, judges and specific agencies such as CBI, and ED, as in the case of Anil Ambani.
How does LOC work?
Once the LOC is issued by a specific agency, it spreads to all immigration and border control points. The aim is to ensure that immigration officials are aware of the presence of an individual and can prevent it from leaving.
Why is the LOC released?
LOC is released mainly for some of the following reasons:
-When someone deliberately avoids arrests and is looking for a criminal case.
-When NBW is issued against a person.
-When someone is accused of financial discrepancies.
The observation tower of the circle is primarily focused on individuals to leave the country to avoid legal measures.
-or if there is a chance that a person accused of crime could escape from the country.
(Tagstotranslate) Circular Circle lookout tower
