ED Attaches ₹3,084 Crore Worth of Properties Linked to Anil Ambani in Money Laundering Case

The Enforcement Directorate (ED) has provisionally attached 40 properties worth approximately ₹3,084 crore linked to businessman Anil Ambani. The assets include office spaces, residential units, and land parcels located in Mumbai, Delhi, Noida, and Hyderabad.

The attachment comes as part of a money laundering investigation into alleged loan fraud involving Ambani and his group companies.

ED Investigation Reveals Financial Misconduct

According to the ED, direct investments by Reliance Nippon Mutual Fund into Anil Ambani Group's financial firms were restricted by SEBI's conflict-of-interest rules. However, funds from the public invested in mutual funds were allegedly routed indirectly through Yes Bank exposures to these companies.

The investigation revealed that Yes Bank invested ₹2,965 crore in Reliance Home Finance Limited (RHFL) and ₹2,045 crore in Reliance Commercial Finance Ltd (RCFL) between 2017 and 2019. By the end of 2019, these investments had turned non-performing, with large sums still outstanding.

Loans Routed to Reliance Group Companies

The ED found that funds were diverted through Yes Bank's exposure to RHFL and RCFL. Loans were allegedly extended to entities linked to the Reliance Anil Ambani Group without adequate verification.

Significant portions of corporate loans were redirected to accounts of Reliance Group subsidiaries, raising serious concerns over transparency and compliance.

Control Failures and Loan Processing Irregularities

The probe uncovered major lapses in loan processing and risk management. Many loans were processed within hours, bypassing mandatory prudential checks. Some loans were even disbursed before sanctioning, with incomplete or blank documentation.

Several borrowers showed weak financial strength and minimal operational activity. The ED noted that security creation was inadequate, often unregistered or incomplete, and that the end use of funds did not match the stated purpose.

ED Intensifies Probe into ₹13,600 Crore Loan Fraud Scam

The agency has expanded its investigation into a loan fraud scam involving Reliance Communications Ltd (RCOM) and associated companies. The ED reported that over ₹13,600 crore was diverted for evergreening loans, while another ₹12,600 crore was rerouted to connected entities.

Over ₹1,800 crore invested in fixed deposits and mutual funds was later liquidated and transferred to group firms, allegedly through fraudulent means. The misuse of bill discounting mechanisms was also detected during the probe.

An ED spokesperson stated that recoveries made through these attachments would benefit the general public, as the agency continues to trace and secure proceeds of crime. The properties remain under provisional attachment pending further investigation and legal proceedings.