The Enforcement Directorate (ED) on Friday conducted searches at multiple locations in Mumbai and Hyderabad as part of an investigation against Reliance Power Ltd., a group company of businessman Anil Ambani, officials said.

About 10-12 locations linked to the said company and its executives are being searched in the two cities, they said.

About 15 teams of the agency are undertaking the action, the officials said.

Reliance Power denied that the federal probe agency raided any of its offices or premises. In a statement to the stock exchanges, the company said that "to the best of its knowledge, no such action has been carried out at any of the offices or premises of the Company."

The ED is investigating multiple companies linked to Anil Ambani as part of an alleged bank fraud linked money laundering case apart from financial irregularities under the Foreign Exchange Management Act (FEMA).

Anil Ambani, 66, has been questioned twice by the ED under the anti-money laundering law as part of this investigation.

The ED has formed a special investigation team (SIT) to probe the cases against Ambani's group companies on the directions of the Supreme Court.

According to information furnished by the ED to the apex court, it has filed three money laundering cases against the Anil Dhirubhai Ambani Group (ADAG) to investigate charges of bank loan fraud and other financial irregularities.