New Delhi: The Enforcement Directorate (ED) has attached assets worth over ₹3,000 crore linked to Reliance Group Chairman Anil Ambani in connection with a money laundering probe against his group companies, official sources said on Monday.
According to the sources, the ED issued four provisional attachment orders under the Prevention of Money Laundering Act (PMLA), covering multiple residential and commercial properties, including the 66-year-old industrialist’s Pali Hill residence in Mumbai.
The attached assets include a plot of land belonging to Reliance Centre on Maharaja Ranjit Singh Marg in Delhi, along with properties in Mumbai, Pune, Thane, Noida, Ghaziabad, Hyderabad, Chennai, and East Godavari, among other locations. The total value of these assets is estimated at ₹3,084 crore.
The case involves alleged diversion and laundering of public funds raised by Reliance Home Finance Ltd. (RHFL) and Reliance Commercial Finance Ltd. (RCFL). Between 2017 and 2019, Yes Bank had invested ₹2,965 crore in RHFL instruments and ₹2,045 crore in RCFL instruments, which later turned non-performing by December 2019. The outstanding amounts then stood at ₹1,353.50 crore for RHFL and ₹1,984 crore for RCFL.
The ED’s action relates to suspected financial irregularities and loan diversions exceeding ₹17,000 crore involving multiple Reliance Group entities, including Reliance Infrastructure.
Ambani was questioned by the ED in August, following extensive searches on July 24 at 35 premises linked to 50 companies and 25 individuals, including key executives of his business group.
The money laundering probe is based on a Central Bureau of Investigation (CBI) FIR.
