Big Crackdown
ED attaches assets worth over Rs 3,000 crore in money laundering probe against Anil Ambani
The Enforcement Directorate (ED) has attached assets worth over Rs 3,000 crore linked to Reliance Group Chairman Anil Ambani as part of its ongoing money laundering probe into his group companies, official sources said on Monday.
According to officials, the agency issued four provisional attachment orders under the Prevention of Money Laundering Act (PMLA), covering multiple residential and commercial properties.
Among them are Ambani’s residence in Mumbai’s Pali Hill, as well as properties owned by his group firms across Delhi, Noida, Ghaziabad, Mumbai, Pune, Thane, Hyderabad, Chennai, and East Godavari.
The attached assets, valued at Rs 3,084 crore, also include a plot of land at Reliance Centre on Maharaja Ranjit Singh Marg in Delhi, officials added.
The case is linked to allegations of diversion and laundering of public funds raised by Reliance Home Finance Ltd. (RHFL) and Reliance Commercial Finance Ltd. (RCFL).
The ED said that between 2017 and 2019, Yes Bank had invested Rs 2,965 crore in RHFL and Rs 2,045 crore in RCFL instruments, which later became non-performing by December 2019.
At that time, the outstanding dues were Rs 1,353.50 crore for RHFL and Rs 1,984 crore for RCFL, according to the agency.
The probe against Ambani forms part of a broader investigation into alleged financial irregularities and loan diversions exceeding Rs 17,000 crore involving several Reliance Group entities, including Reliance Infrastructure.
The ED had questioned Ambani in August as part of its inquiry, following search operations on July 24 at 35 locations linked to 50 companies and 25 individuals, including senior executives of his business group.
The money laundering case originates from a Central Bureau of Investigation (CBI) FIR, which first flagged irregularities in fund utilisation by the companies under scrutiny.
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