The Enforcement Directorate (ED) has provisionally attached assets valued at ₹3,084 crore belonging to the Reliance Anil Ambani Group, marking a major development in its ongoing money laundering and fund diversion investigation. The action, taken under the Prevention of Money Laundering Act (PMLA), follows probes into Reliance Home Finance Ltd (RHFL) and Reliance Commercial Finance Ltd (RCFL), both of which are alleged to have misused funds raised through investments by Yes Bank between 2017 and 2019.
Key Assets Attached
The attachment order covers several prominent properties associated with the group:
| Property | Location |
| Ambani family residence | Pali Hill, Mumbai |
| Reliance Centre building | New Delhi |
| Various residential units | Multiple cities |
| Office premises | Multiple cities |
| Land parcels | Multiple cities |
These assets together are valued at approximately ₹3,084 crore.
Focus of the Investigation
The ED’s investigation is centered on alleged fund diversion through RHFL and RCFL. The two companies reportedly received substantial investments from Yes Bank, which later turned into outstanding dues.
| Company | Investment (₹ crore) | Outstanding Dues (as of Dec 2019, ₹ crore) |
| Reliance Home Finance Ltd (RHFL) | 2,965.00 | 1,353.50 |
| Reliance Commercial Finance Ltd (RCFL) | 2,045.00 | 1,984.00 |
Allegations and Findings
Preliminary findings by the ED suggest multiple financial irregularities, including:
- Diversion of funds through group-linked entities in violation of SEBI norms.
- Loans sanctioned without adequate due diligence or verification of collateral.
- Instances of blank or undated security documents.
Expanded Probe into Reliance Communications
The investigation has also expanded to include Reliance Communications Ltd (RCom) over an alleged loan fraud of ₹13,600 crore. According to initial findings, around ₹12,600 crore may have been diverted to related entities or connected parties.
Implications
This attachment order marks a significant escalation in regulatory scrutiny of the Reliance Anil Ambani Group. The ED’s action underscores the seriousness of the alleged financial mismanagement and could have wide-ranging implications for the group’s ongoing operations and creditor negotiations.
Summary:
The Enforcement Directorate has attached ₹3,084 crore worth of properties belonging to the Reliance Anil Ambani Group in connection with a money laundering investigation involving Reliance Home Finance, Reliance Commercial Finance, and Reliance Communications. The case, tied to Yes Bank investments and alleged fund diversion, represents one of the largest enforcement actions against the group to date.
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