Copyright republicworld
New Delhi: Enforcement Directorate (ED), in a major action under the Prevention of Money Laundering Act (PMLA), has provisionally attached assets worth over Rs 3,084 crore belonging to the Reliance Anil Ambani Group.The attached properties include the Ambani family’s residence at Pali Hill in Bandra (West), Mumbai, and several other prime assets in Delhi, Noida, Ghaziabad, Mumbai, Pune, Thane, Hyderabad, Chennai, Kancheepuram and East Godavari.According to the ED, the attachments were made through four separate orders issued on October 31, 2025, in connection with the ongoing probe into the 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 Rs 5,000 crores in RHFL (Rs 2,965 crores) and RCFL instruments (Rs 2,045 crores). This later turned into non-performing assets by December 2019, with Rs 1,353 crores then outstanding for RHFL and Rs 1,984 crores for RCFL.ED investigation found that direct investment by the erstwhile Reliance Nippon Mutual Fund in Anil Ambani Group financial companies was not legally possible due to SEBI’s mutual fund conflict-of-interest framework. In violation of these guidelines, the money invested by the general public in the mutual fund was routed indirectly through Yes Bank exposures, which ultimately landed with Anil Ambani Group companies.The investigation revealed funds were routed indirectly through Yes Bank’s exposures to RHFL and RCFL, while RHFL and RCFL extended loans to entities linked to the Reliance Anil Ambani group.The ED further stated that it has uncovered a web of fund diversion, on-lending to group-linked entities, and 'ultimate siphoning off' of public money.Investigators found that loans were often processed on the same day as applications, with 'blank, overwritten and undated' documents, and inadequate or unregistered securities. In several cases, loan disbursals happened before approvals, raising red flags of misuse. ED found these intentional and consistent control failures.Many borrower companies had weak financials or negligible business operations, suggesting that the loans were extended merely to funnel money within the group.The ED has also intensified its investigation into Reliance Communications Ltd. (RCOM) and associated firms, where alleged loan frauds worth over Rs 13,600 crores have surfaced.According to the agency, Rs 12,600 crores were diverted to connected parties, and Rs 1,800 crores got invested in fixed deposits and mutual funds was later liquidated and rerouted. The probe has also exposed large-scale misuse of bill discounting mechanisms to flow funds among related entities.Pali Hill, Mumbai (Bandra West): CTS No. C/1316B/1/1; Plot 43, Nargis Dutt Road. Popularly known as the Ambani family’s Pali Hill residence.New Delhi: Reliance Centre, New Delhi.Reliance Infrastructure Ltd: Multiple properties in Mumbai, Pune, Thane, Noida, Hyderabad, East Godavari and Goa; including Nagin Mahal offices (Churchgate, Mumbai), flats in BHA Millennium Tower (Noida), Camus Capri Apartments (Hyderabad), land parcels in East Godavari, and premises in Pune and Thane.Properties of Linked entities: Land parcels at Ghaziabad/Noida and 29 flats in Chennai (Adyar/OMR-Kottivakkam) valued at Rs 109.61 crore (equivalent value).
