• Source:JND
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The Enforcement Directorate (ED) has provisionally attached 40 properties valued at approximately Rs 3,084 crore, linked to entities associated with the Reliance Anil Ambani Group, over allegations of diverting and laundering public funds.

The Rs 3,084 crore fraud has been traced to the industrialist as part of the ED’s money laundering investigation into alleged loan irregularities involving him and his group firms.

Among the attached properties are a residence in Pali Hill, Bandra (West), Mumbai, the Reliance Centre in New Delhi, along with several other assets spread across Delhi, Noida, Ghaziabad, Mumbai, Pune, Thane, Hyderabad, Chennai (including Kancheepuram), and East Godavari. These comprise residential properties, office spaces, and land parcels.

The official attachment orders were issued on October 31, 2025, under Section 5(1) of the Prevention of Money Laundering Act (PMLA). The case revolves around the alleged misuse and laundering of public funds raised by Reliance Home Finance Ltd. (RHFL) and Reliance Commercial Finance Ltd. (RCFL). Between 2017 and 2019, Yes Bank invested Rs 2,965 crore in RHFL instruments and Rs 2,045 crore in those of RCFL.

These turned into nonperforming investments by December 2019, with Rs 1,353.50 crore then outstanding for RHFL and Rs 1,984 crore for RCFL.

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ED Looks Into Reliance Group

An ED investigation found that direct investment by the erstwhile Reliance Nippon Mutual Fund into Anil Ambani Group financial companies was not legally possible due to SEBI's mutual fund conflict of interest framework.

In violation of these guidelines the money invested by general public in the mutual fund was routed indirectly through Yes Bank exposures, which ultimately landed with Anil Ambani Group companies. The probe further shows funds were routed indirectly through Yes Bank's exposures to RHFL and RCFL, while RHFL and RCFL extended loans to entities linked to the Reliance Anil Ambani group.

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ED has also intensified probe in Reliance Communications Ltd. (RCOM) and related companies loan fraud scam. ED has found that these companies diverted over Rs 13,600 crore used in evergreening loans, over Rs 12,600 crore was diverted to connected parties and over Rs 1,800 crore was invested in FDs/MFs etc., which was substantially liquidated for rerouting to group entities.

Huge misuse of bill discounting for the purpose of funneling funds to connected parties has also been detected by ED.

( With inputs form Agencies )

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