The Enforcement Directorate (ED) has attached 40 properties worth about Rs 3,084 crore linked to entities of the Reliance Anil Ambani Group in connection with an alleged money laundering case related to the diversion of public funds by Reliance Home Finance Ltd (RHFL) and Reliance Commercial Finance Ltd (RCFL).
According to the ED, the attachment orders were issued on October 31, 2025, under Section 5(1) of the Prevention of Money Laundering Act (PMLA), 2002.
The attached assets include the Pali Hill residence of the Ambani family in Bandra (West), Mumbai, the Reliance Centre property in New Delhi, and several other properties spread across Delhi, Noida, Ghaziabad, Mumbai, Pune, Thane, Hyderabad, Chennai (including Kancheepuram) and East Godavari. These comprise office premises, residential units and land parcels, with an aggregate value of approximately Rs 3,084 crore.
The ED case concerns the alleged diversion and laundering of public funds raised by RHFL and RCFL.
“During 2017-2019, Yes Bank invested Rs 2,965 crore in RHFL instruments and Rs 2,045 crore in RCFL instruments. These investments turned into non-performing assets by December 2019, with Rs 1,353.50 crore outstanding for RHFL and Rs 1,984 crore for RCFL,” said the ED.
ED’s investigation revealed that direct investments by the erstwhile Reliance Nippon Mutual Fund into Anil Ambani Group’s financial companies were prohibited under SEBI’s conflict-of-interest framework. To circumvent this, funds invested by the public in mutual funds were allegedly routed indirectly through Yes Bank exposures, which ultimately benefited Anil Ambani Group entities.
The probe found that RHFL and RCFL extended loans to entities linked to the Group, with funds diverted through on-lending, fund layering, and ultimate siphoning-off.
ED officials noted serious procedural lapses and control failures in sanctioning and processing loans — including same-day sanction and disbursal, blank or undated documents, and inadequate security creation. Some loans were even disbursed before formal applications were made.
The agency termed these irregularities “intentional and consistent control failures” that facilitated the misuse of funds.
The ED has also intensified its probe into Reliance Communications Ltd (RCOM) and related group companies in connection with alleged loan frauds amounting to over Rs 13,600 crore. The investigation has revealed that around Rs 12,600 crore was diverted to connected entities, while Rs 1,800 crore was parked in fixed deposits and mutual funds before being liquidated and routed back to group firms.
The agency said it has uncovered large-scale misuse of bill discounting mechanisms to funnel funds to related entities.
The ED said it continues to trace proceeds of crime and secure attachments of tainted properties, asserting that recoveries made will “ultimately benefit the general public.”
(with inputs from ANI)
