The Enforcement Directorate (ED) has provisionally attached industrialist Anil Ambani’s Mumbai residence ‘Abode’, valued at ₹3,716.83 crore, under the provisions of the Prevention of Money Laundering Act (PMLA), in connection with an alleged bank loan fraud case linked to Reliance Communications (RCOM).
RCOM Loan Fraud Allegations
The action comes a day before Ambani, 66, is scheduled to appear before the agency in New Delhi for a second round of questioning in the matter.
According to the ED, the property is a 66-metre-high, 17-storey residential tower located in the upscale Pali Hill area of Mumbai. Officials said that a portion of the same property worth ₹473.17 crore had already been attached in November 2025 as part of the ongoing investigation.
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₹40,185 Crore in Outstanding Dues
The agency stated that RCOM and its group entities had availed loans from a consortium of domestic and foreign lenders, with total outstanding dues amounting to ₹40,185 crore. Several of these loans later turned into non-performing assets (NPAs), triggering scrutiny by investigative agencies.
RiseE Trust Wealth Preservation Claims
In its statement, the ED alleged that the Pali Hill property was aggregated into an entity named RiseE Trust, which it described as a private family trust of Ambani’s family members. According to the agency, this restructuring was aimed at creating an impression that Anil Ambani had no direct involvement with the asset.
Cumulative Attachments Reach ₹15,700 Crore
Investigators claim that the intended effect of this corporate arrangement was to preserve wealth and generate resources by consolidating the property within the trust structure, thereby shielding it from personal liabilities arising out of guarantees extended by Ambani to banks against loans sanctioned to RCOM.
“The property was meant to be beneficially used and owned by the family and not for the lending banks whose loans subsequently became NPAs,” the agency alleged.
With the latest provisional attachment order, the cumulative value of assets attached in the case has reached approximately ₹15,700 crore. The ED has been probing multiple transactions and financial arrangements involving companies under the Anil Dhirubhai Ambani Group (ADAG) umbrella, examining the end-use of borrowed funds and the movement of assets.
Supreme Court Scrutiny and Next Steps
The case has gained further momentum after the Supreme Court directed closer scrutiny of alleged financial irregularities involving the group. Following these directions, the ED constituted a special investigation team to handle multiple cases of suspected bank fraud and money laundering linked to ADAG entities.
RCOM, once a major player in India’s telecom sector, had filed for insolvency after facing mounting debt and intense competition in the industry. The resolution process and associated legal battles have been closely watched by lenders and regulators alike.
The provisional attachment under PMLA is aimed at preventing the disposal or transfer of the identified property during the course of investigation. Under the law, such attachments are subject to confirmation by the adjudicating authority.
Ambani has previously denied wrongdoing in similar proceedings and is expected to present his position before investigators during his appearance. Further developments in the case will hinge on the outcome of the questioning and subsequent legal processes.
The high-value attachment of ‘Abode’ marks one of the most significant actions in the ongoing probe, underlining the scale of the alleged financial exposure linked to the RCOM loan accounts.
About the author – Rehan Khan is a law student and legal journalist with a keen interest in cybercrime, digital fraud, and emerging technology laws. He writes on the intersection of law, cybersecurity, and online safety, focusing on developments that impact individuals and institutions in India.
