Massive Asset Seizure: ED Targets Anil Ambani's Firms

The Enforcement Directorate (ED) announced on Thursday the attachment of properties valued at more than Rs 581 crore linked to Reliance Group companies of Anil Ambani, namely Reliance Home Finance Limited (RHFL) and Reliance Commercial Finance Limited (RCFL).

This latest action follows a series of search operations conducted on March 6 as part of a case concerning Reliance Power Limited under the Foreign Exchange Management Act (FEMA). The order for attachment was issued on March 11, affecting land assets across numerous Indian states, including Goa, Kerala, and Karnataka.

The cumulative value of assets attached in connection with Anil Ambani's Reliance entities now reaches Rs 16,310 crore. This probe emerged from a CBI FIR based on complaints by major banks, revealing that funds exceeding Rs 11,000 crore became non-performing assets.