Anil Ambani's Assets Seized Amid Money Laundering Probe

The Enforcement Directorate (ED) has taken a significant step in its money laundering investigation against the Reliance Group by attaching assets worth over Rs 3,000 crore, linked to the group's chairman, Anil Ambani. Official sources confirmed the development on Monday.

This substantial action includes the issuance of four provisional orders under the Prevention of Money Laundering Act (PMLA) to seize properties. Amongst those properties is Ambani's residence in Pali Hill, Mumbai, alongside several residential and commercial properties owned by his group companies in cities such as Mumbai, Delhi, Noida, Ghaziabad, Pune, Thane, Hyderabad, Chennai, and East Godavari.

The ED's case is rooted in the alleged misuse and laundering of public funds raised by Reliance Home Finance Ltd. (RHFL) and Reliance Commercial Finance Ltd. (RCFL). During 2017-2019, Yes Bank had invested heavily in RHFL and RCFL, investments that later turned non-performing. The ED's investigation follows a CBI FIR concerning financial irregularities and loan diversions exceeding Rs 17,000 crore by various Reliance companies.