The Enforcement Directorate (ED) has provisionally attached assets worth over INR 3,000 crore belonging to Reliance Group Chairman Anil Ambani and his group companies in connection with an alleged money laundering case, according to a PTI report.
The agency issued four provisional attachment orders under the Prevention of Money Laundering Act (PMLA), covering Ambani’s residence in Pali Hill, Mumbai, as well as several residential and commercial properties across Delhi, Noida, Ghaziabad, Mumbai, Pune, Thane, Hyderabad, Chennai, and East Godavari. The total value of attached assets stands at INR 3,084 crore.
The probe relates to the 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 nearly INR 5,000 crore in RHFL and RCFL instruments, which later turned non-performing.
The ED has linked Ambani’s firms to a larger case of alleged loan diversion exceeding INR 17,000 crore involving multiple group companies, including Reliance Infrastructure. Ambani was questioned by the agency in August, following searches at 35 premises connected to about 50 companies and 25 individuals in Mumbai on July 24.
The money laundering case stems from an FIR filed by the Central Bureau of Investigation (CBI).
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