Anil Ambani's Reliance Group Denies Business Impact Amid ED's Asset Attachment

Anil Ambani's Reliance Group on Tuesday asserted that the Enforcement Directorate's (ED) attachment of Rs 7,500 crore worth of properties will not affect the business operations of its listed companies. This announcement comes after the ED linked the attachment to a money-laundering investigation involving Reliance Communications.

The assets, primarily from Reliance Communications, are under the oversight of a Resolution Professional and the committee of creditors, led by State Bank of India. The federal agency issued provisional orders attaching 42 properties on October 31, including the Ambani family home in Mumbai and other group properties.

Despite the ongoing probe, Reliance Infrastructure Limited and Reliance Power Limited clarify that their operations and future prospects remain unchanged. Both companies are debt-free and have lodged a formal complaint against market manipulation with SEBI, ensuring focus on growth and stakeholder commitment.