ED Seizes ₹3,000 Crore Assets Linked to Anil Ambani’s Reliance Group in Money-Laundering Probe

The Enforcement Directorate (ED) has provisionally attached 40 assets worth about ₹3,084 crore belonging to companies linked to the Anil Ambani-led Reliance Group in connection with an ongoing money-laundering probe, officials said on Monday.

Among the attached properties are the Ambani family’s residence at Mumbai’s Pali Hill and the Reliance Centre in Delhi. The action, taken under the Prevention of Money Laundering Act (PMLA), covers assets spread across several cities, including Mumbai, Pune, Thane, Hyderabad, Chennai, Delhi, Noida, Ghaziabad, Kancheepuram, and East Godavari. These include office buildings, land parcels, and residential properties.

Probe Into Fund Diversion

The ED investigation focuses on alleged diversion of public funds raised by Reliance Home Finance Ltd (RHFL) and Reliance Commercial Finance Ltd (RCFL). The agency claims that Yes Bank had invested ₹2,965 crore in RHFL and ₹2,045 crore in RCFL between 2017 and 2019. By the end of 2019, these investments reportedly turned non-performing, leaving over ₹3,300 crore outstanding.

According to investigators, funds that could not be invested directly in Anil Ambani Group companies — owing to SEBI’s conflict-of-interest restrictions — were allegedly routed indirectly through Yes Bank and eventually landed with group-linked entities.

Allegations of Mismanagement

The ED alleges that both RHFL and RCFL issued large loans to shell or group-linked entities without proper due diligence. In many cases, loans were sanctioned and disbursed on the same day, sometimes even before formal applications were submitted. Officials also point to missing documentation, poor borrower financials, and improper end-use of funds.

The agency has further expanded its probe into Reliance Communications Ltd (RCOM) and its affiliates, alleging misuse of over ₹13,600 crore through loan evergreening, round-tripping, and related-party transactions.

Preliminary findings suggest that over ₹12,600 crore was diverted to group-linked entities, while around ₹1,800 crore was parked in fixed deposits or mutual funds before being routed back to Reliance firms.

“ED continues to identify and attach proceeds of crime. The recovered assets will ultimately go toward safeguarding public interest,” an official said.