ED Attaches Rs 1,021 Crore Assets of Anil Ambani Group Companies in Mumbai
The Enforcement Directorate (ED) has provisionally attached fresh assets worth Rs 1,021 crore in Mumbai in connection with a money laundering investigation into the Anil Dhirubhai Ambani Group (ADAG). The central agency announced the action on Saturday, following allegations of systematic diversion of public funds and financial irregularities involving Reliance Home Finance Limited (RHFL) and Reliance Commercial Finance Limited (RCFL).
The newly attached assets under the Prevention of Money Laundering Act (PMLA) include equity shares of Reliance Power Limited held by Reliance Infrastructure Limited. The attachment also includes loan receivables from Sasan Power Limited and Reliance Power Limited.
This latest action follows search operations conducted by the ED on July 7 at the premises of E-Complex Private Limited, a firm allegedly linked to ADAG, and the residence of one of its directors. During these searches, investigators seized documents relating to immovable properties, financial records, and materials indicating beneficial ownership and control of shell companies by the group's senior management.
The money laundering investigation originated from multiple FIRs registered by the Central Bureau of Investigation (CBI) after complaints were filed by several public and private sector banks. According to the ED, public funds amounting to Rs 15,548 crore raised by RHFL and RCFL were systematically diverted through a network of shell entities and group companies allegedly controlled and managed by ADAG.
With this latest action, the total value of assets attached under the PMLA in cases linked to ADAG has reached Rs 20,367 crore. Additionally, the ED has attached properties valued at Rs 77.86 crore under the Foreign Exchange Management Act (FEMA).
The ED is currently investigating multiple cases involving the group, having registered four Enforcement Case Information Reports (ECIRs) under the PMLA and three cases under FEMA. The agency has also conducted searches at more than 80 premises linked to the group.
The Reliance Anil Ambani Group has previously denied any wrongdoing and maintained that it is cooperating with the investigating agencies. The group did not immediately respond to queries regarding the latest attachment.
