New Delhi | India’s Enforcement Directorate (ED) has intensified its investigation into alleged money laundering involving companies linked to industrialist Anil Ambani, attaching properties worth over ₹581 crore. The action is connected to suspected financial irregularities related to Reliance Home Finance Limited (RHFL) and Reliance Commercial Finance Limited (RCFL).
According to the agency, the properties have been provisionally attached under the Prevention of Money Laundering Act (PMLA). The order was issued on March 11, targeting several land parcels located across multiple states in India.
The attached assets are reported to be located in Goa, Kerala, Karnataka, Punjab, Tamil Nadu, Uttar Pradesh, Haryana, Jharkhand, Maharashtra, Delhi, West Bengal, Andhra Pradesh and Rajasthan. Investigators estimate the total value of these properties at approximately ₹581.65 crore.
FCRF Launches Flagship Certified Fraud Investigator (CFI) Program
Officials say the move forms part of an ongoing investigation into financial dealings linked to companies associated with the Reliance Anil Ambani Group. The probe has focused on funds raised by certain group entities from banks and financial institutions.
Investigators claim that a substantial portion of these borrowings later turned into non-performing assets (NPAs). The companies are alleged to have raised more than ₹11,000 crore from various banking sources, which subsequently became financially distressed.
According to investigators, the probe has also uncovered instances where funds raised through group entities were allegedly transferred to other associated companies. Authorities claim the money was routed to firms such as Reliance Infrastructure Limited, Reliance Power Limited, Reliance Communications Limited and Reliance Capital Limited.
The agency alleges that a network of shell companies was used to move the funds across multiple layers. These entities reportedly had minimal business activity and limited financial capacity.
Investigators suspect that these shell structures were used to circulate funds through several transactions in order to conceal the original source and final use of the money. The probe documents indicate signs of what investigators describe as malafide intent by certain individuals associated with the management and promoter group.
Officials say the latest action follows search operations carried out on March 6, during which investigators reportedly obtained financial records and documents that led to the identification of additional assets linked to the case.
The ED has previously attached properties connected to the Anil Ambani group as part of the same investigation. With the latest action, the total value of assets attached so far in the case has reached around ₹16,310 crore.
The investigation stems from complaints filed by Yes Bank, Union Bank of India and Bank of Maharashtra. Based on these complaints, a case was initially registered by a central investigative agency, after which the ED launched a parallel probe into possible money laundering aspects.
Sources familiar with the investigation say authorities are continuing to examine the flow of funds to determine how public money was used and whether financial irregularities occurred during the transactions.
Financial experts say probes of this nature are important for improving transparency in large corporate financial dealings and strengthening safeguards within the banking system. Investigators are expected to continue examining financial transactions and related entities as the case develops further.
About the author — Suvedita Nath is a science student with a growing interest in cybercrime and digital safety. She writes on online activity, cyber threats, and technology-driven risks. Her work focuses on clarity, accuracy, and public awareness.
