Mumbai, November 3 (IANS). The Enforcement Directorate (ED) has provisionally attached assets worth about Rs 3,084 crore belonging to Reliance Anil Ambani group companies over alleged misappropriation and laundering of public funds.
These properties include a house in Pali Hill, Mumbai, Reliance Center in New Delhi and several properties in Delhi, Noida, Ghaziabad, Mumbai, Pune, Thane, Hyderabad, Chennai (including Kanchipuram) and East Godavari.
These properties include office and residential units and land parcels.
The order to seize these assets was issued on October 31, 2025, under Section 5(1) of the Prevention of Money Laundering Act (PMLA).
The case pertains to misappropriation and laundering of banking loans raised by Reliance Home Finance Limited (RHFL) and Reliance Commercial Finance Limited (RCFL).
During 2017-19, Yes Bank invested Rs 2,965 crore in RHFL Instruments and Rs 2,045 crore in RCFL Instruments.
By December 2019, these investments had become non-performing (NPAs), with RHFL owing Rs 1,353.50 crore and RCFL owing Rs 1,984 crore.
The ED investigation revealed that direct investment by the erstwhile Reliance Nippon Mutual Fund in the financial companies of Anil Ambani Group was not legally possible due to SEBI’s mutual fund conflict of interest framework.
In violation of these guidelines, money invested in mutual funds by the general public was indirectly routed through exposure to Yes Bank, ultimately reaching Anil Ambani group companies.
The investigation also revealed that funds were indirectly routed through Yes Bank’s exposure to RHFL and RCFL, while RHFL and RCFL had given loans to entities linked to the Reliance Anil Ambani Group.
Meanwhile, the ED has also intensified investigation into the loan fraud scam of Reliance Communications Limited (RCom) and related companies.
Last week, investigative news website Cobrapost had alleged that Reliance Anil Dhirubhai Ambani Group has committed a major banking fraud and embezzled an amount of over Rs 28,874 crore since 2006.
Reliance Group had dismissed the Cobrapost report as “a malicious, baseless and purposeful campaign”.
–IANS
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