Enforcement Directorate Seizes Rs 3,000 Crore Assets Linked to Anil Ambani Amid Alleged Money Laundering
The Enforcement Directorate has attached over Rs 3,000 crore worth of assets linked to Anil Ambani and his companies during a money laundering probe. The investigation is related to alleged financial irregularities involving Reliance Home Finance and Reliance Commercial Finance, with over Rs 17,000 crore in alleged loan diversions.
- Country:
- India
The Enforcement Directorate (ED) has taken action to attach assets valued at more than Rs 3,000 crore, connected to Reliance Group Chairman Anil Ambani and his associated companies, due to an ongoing money laundering investigation. This includes properties such as Ambani's family home in Mumbai.
The provisional attachment orders were issued under the Prevention of Money Laundering Act (PMLA) on October 31, encompassing assets in various cities including Delhi, Noida, Ghaziabad, and Hyderabad. Among the seized properties is land linked to the Reliance Centre in Delhi and flats in Noida and Hyderabad.
The investigation focuses on allegations of financial irregularities and loan diversions exceeding Rs 17,000 crore by Ambani's companies. The ED claims funds from mutual investors were illicitly funneled to Anil Ambani's companies through Yes Bank, bypassing legal protocols.
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