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The Enforcement Directorate (ED) has provisionally attached assets valued at ₹3,084 crore linked to industrialist Anil Ambani and the Reliance Group in a major money laundering case. The action, carried out under the Prevention of Money Laundering Act (PMLA), targets properties allegedly acquired through proceeds of crime generated from financial irregularities in Reliance Home Finance Ltd (RHFL) and Reliance Commercial Finance Ltd (RCFL).
The attached assets include more than 40 properties spread across Mumbai, Delhi, Noida, Ghaziabad, Chennai, Hyderabad, Pune, and Thane. Among them are Anil Ambani’s Pali Hill residence and the Reliance Centre in Delhi’s Maharaja Ranjit Singh Marg, along with various commercial and residential holdings.
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Probe Linked to YES Bank Investments
The ED’s investigation stems from YES Bank’s investments worth ₹5,010 crore in debt instruments of RHFL and RCFL between 2017 and 2019. These later turned into non-performing assets, with around ₹3,300 crore outstanding by December 2019. Investigators allege that the borrowed funds were diverted to group-linked shell entities, bypassing standard lending protocols and documentation norms.
The agency’s findings indicate deliberate lapses in credit assessment, inadequate collateral, and manipulation of borrower records — pointing to a systematic diversion of public funds.
Expanding Financial Crime Investigation
The attachment marks a major escalation in India’s ongoing crackdown on corporate financial misconduct. The ED continues to trace money trails and recover assets allegedly laundered through complex corporate structures. Further action, including prosecution under the PMLA, is expected as the investigation progresses.
