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The Enforcement Directorate has provisionally attached properties worth ₹510 crore linked to Anil Ambani’s Reliance Group as part of an ongoing money laundering probe connected to alleged bank loan fraud. The enforcement measure, executed on Tuesday under the Prevention of Money Laundering Act, encompasses two chartered aeroplanes, six plots of land, commercial premises in Maharashtra, two Tamil Nadu windmills, bank accounts, fixed deposits, and investment instruments. Investigators stated that the action focuses on alleged fraudulent dealings involving financial and telecommunications units under the Reliance Anil Ambani Group.
Chartered Aircraft and Commercial Properties Seized
In the matter concerning Reliance Communications Limited, the agency attached two chartered aeroplanes, specifically a Dassault Falcon 2000 and an Embraer aircraft, alongside six land parcels and an office premises situated in Maharashtra. The central agency identified these assets as representing proceeds of money laundering generated through loan irregularities. The alleged fraud linked to RCOM operations accounts for ₹247.12 crore of the total amount under scrutiny.
Parallel enforcement measures directed at Reliance Home Finance Limited and Reliance Commercial Finance Limited targeted two operational windmills in Tamil Nadu, together with various bank balances, term deposits, and financial investments. The total alleged fraud attributed to the RHFL and RCFL cases has been calculated at ₹263.05 crore, with investigators continuing to scrutinise the accounting entries and commercial trails connected to these holdings.
Fund Diversion and Insolvency Misuse Allegations
Federal investigators have alleged that their scrutiny uncovered widespread diversion of public funds secured by group entities from commercial banks and financial lenders. The agency also claimed that provisions under the Insolvency and Bankruptcy Code were misused to illicitly ring-fence corporate assets for personal utility.
According to the ED, borrowings sourced from domestic lenders were systematically channelled out of the country into overseas tax havens to serve the private requirements of company promoters and their family members. The agency clarified that these assertions represent ongoing findings, with final determination remaining subject to formal judicial proceedings.
Total Attachments Rise Across Multi-Agency Probe
The financial enforcement agency confirmed that 10 individuals have been placed under arrest across these cases to date, accompanied by the submission of six formal chargesheets before relevant courts. A separate inquiry has also been launched under the Foreign Exchange Management Act to trace overseas monetary flows and associated transnational banking channels.
With this recent round of attachments, the cumulative valuation of assets seized and attached by the agency across the group investigations has climbed to ₹23,100 crore. The wider probe remains focused on assessing how institutional borrowings were deployed, unravelling domestic asset transfers, and examining cross-border financial transactions carried out across group entities.
