ED cracks down on Anil Ambani Group, attaches ₹3,084-crore assets across nine cities
New Delhi – The Enforcement Directorate (ED) has intensified its crackdown on the Anil Ambani-led Reliance Group. It attached assets worth ₹3,084 crore spread across nine Indian cities. The attached properties include a family home in Mumbai’s upscale Pali Hill, the Reliance Centre in Delhi, and several other real estate holdings.
The action follows an order issued on October 31 under the Prevention of Money Laundering Act (PMLA). The attached assets include residences, office spaces, and land parcels in Delhi, Noida, Ghaziabad, Mumbai, Pune, Thane, Hyderabad, Chennai, and East Godavari in Andhra Pradesh.
According to the ED, the move forms part of its probe into alleged fund diversion by Reliance Home Finance Limited (RHFL) and Reliance Commercial Finance Limited (RCFL). Investigators claim the companies laundered public money raised through investments by Yes Bank.
Between 2017 and 2019, Yes Bank reportedly invested ₹2,965 crore in RHFL and ₹2,045 crore in RCFL through various financial instruments. By December 2019, these investments turned into non-performing assets. Outstanding dues stood at ₹1,353 crore for RHFL and ₹1,984 crore for RCFL.
Investigations revealed that direct investments by Reliance Nippon Mutual Fund in the Anil Ambani group’s financial arms violated SEBI’s conflict-of-interest rules. Instead, funds collected from the public were allegedly funneled indirectly through Yes Bank’s exposure to RHFL and RCFL, eventually reaching Anil Ambani’s firms.
The ED claims it traced a large-scale diversion of funds within the group. It found several loans disbursed without proper checks. Some were approved and released on the same day, and others before applications were even filed. Many borrowers had weak or non-existent business activity, while key documents remained undated or blank.
In addition, the agency has expanded its probe into Reliance Communications Limited and related companies. Preliminary findings suggest a diversion of ₹13,600 crore through loan evergreening and misuse of bill discounting. About ₹12,600 crore allegedly moved to connected entities, while ₹1,800 crore went into fixed deposits and mutual funds later liquidated for group benefit.
Through these actions, the ED aims to recover laundered funds and secure public investments. Officials said the attachment of assets marks another step toward safeguarding investor interests and ensuring accountability in large-scale financial misconduct.
The agency plans to continue tracing the “proceeds of crime” and take further steps to recover misused funds. Meanwhile, Reliance Group has not yet issued an official response to the latest attachment order.
This development adds to the ongoing scrutiny surrounding Anil Ambani’s debt-hit ventures, which have faced multiple regulatory and financial investigations in recent years.
