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The Enforcement Directorate (ED) on Monday said it has attached assets worth over ₹3,000 crore belonging to Reliance Group Chairman Anil Ambani, his group companies and linked entities as part of a money laundering investigation. The federal agency issued four provisional attachment orders under the Prevention of Money Laundering Act (PMLA) on October 31, covering 42 properties. Among them are, the 66-year-old industrialist’s family residence in Pali Hill, Mumbai, and several residential and commercial assets of his group firms. The attached properties include a plot of land belonging to the Reliance Centre on Maharaja Ranjit Singh Marg in Delhi and assets of companies such as Reliance Infrastructure Ltd, Adhar Property Consultancy Pvt Ltd, Mohanbir Hi-Tech Build Pvt. Ltd, Gamesa Investment Management Pvt. Ltd, Vihaan43 Realty Pvt. Ltd (formerly Kunjbihari Developers Pvt. Ltd), and Campion Properties Ltd. These properties are located across Delhi, Noida, Ghaziabad, Mumbai, Pune, Thane, Hyderabad, Chennai and East Godavari district in Andhra Pradesh, the agency said. Among those attached are offices in Mumbai’s Nagin Mahal building, flats in BHA Millennium Apartments in Noida, and Camus Capri Apartments in Hyderabad. The total value of the attached assets stands at ₹3,083 crore, the ED statement said. There was no immediate response from Anil Ambani or his group on the agency’s action. The ED alleged that several companies of the Reliance Anil Dhirubhai Ambani Group (ADAG) — including Reliance Communications Ltd (RCOM), Reliance Home Finance Ltd (RHFL), Reliance Commercial Finance Ltd (RCFL), Reliance Infrastructure Ltd (R-Infra) and Reliance Power Ltd — were involved in the fraudulent diversion of public funds. A separate search under the Foreign Exchange Management Act (FEMA) against Reliance Infrastructure revealed that ₹40 crore was allegedly siphoned off from the Jaipur-Reengus highway project, the agency said. “Funds moved through Surat-based shell companies to Dubai. The trail has unearthed a wider international hawala network exceeding ₹600 crore,” it added. According to the ED, between 2010 and 2012, RCOM and its group companies raised thousands of crores from Indian banks, of which ₹19,694 crore remains outstanding. These loans later turned non-performing, and five banks have declared RCOM’s loan accounts as fraudulent, it said. The allegations The agency alleged that loans taken by one entity were often used to repay borrowings of other group entities, or diverted to related parties and mutual fund investments — violating loan terms. “RCOM and its group companies diverted over ₹13,600 crore in evergreening loans, over ₹12,600 crore to connected parties, and over ₹1,800 crore into fixed deposits and mutual funds,” the statement said. Some loans, it added, were siphoned abroad through foreign remittances. The agency also linked the alleged irregularities to investments made by Yes Bank between 2017 and 2019. It said Yes Bank invested ₹2,965 crore in RHFL instruments and ₹2,045 crore in RCFL instruments, which later turned into non-performing investments. As of December 2019, the “outstanding” amounts stood at ₹1,353.5 crore for RHFL and ₹1,984 crore for RCFL. RHFL and RCFL, the ED noted, had raised over ₹10,000 crore in public funds, a significant portion of which came from YES Bank. Before these investments, YES Bank had itself received large inflows from the erstwhile Reliance Nippon Mutual Fund, the agency said, adding that SEBI rules prohibited the fund from directly investing in Anil Ambani group companies due to conflict-of-interest norms. The ED said it has “detected a pattern of mala fide conduct, including pre-decided beneficiaries, manufactured paperwork, waived controls, and disbursals ahead of approvals, followed by swift routing to related entities.” “This conduct enabled siphoning of public funds,” it said, adding that the agency continues to trace proceeds of crime. The ED said its actions aim to restore losses to lenders and “ultimately benefit the general public” under provisions of the PMLA allowing restitution of attached assets to victim banks. Anil Ambani was questioned by the ED in August, following earlier searches conducted in July across 35 premises linked to 50 companies and 25 individuals, including senior executives of his group. The ED’s money laundering case stems from a Central Bureau of Investigation’s FIR. Reliance Infrastructure Ltd informed the stock exchanges that company assets have been provisionally attached by ED for the alleged violations under PMLA. “There is no impact on the business operations, shareholders, employees or any other stakeholders of Reliance Infrastructure Limited,” the disclosure read as per company sources. It also informed that Anil D. Ambani is not on the Board of Reliance Infrastructure Ltd for more than 3.5 years. Published on November 3, 2025
