The Enforcement Directorate (ED) has attached fresh assets worth approximately ₹510.17 crore belonging to companies associated with the Reliance Anil Ambani Group in connection with alleged bank fraud and money laundering investigations.
According to reports published on November 3, the latest action involves Reliance Communications Limited (RCOM), Reliance Home Finance Limited (RHFL) and Reliance Commercial Finance Limited (RCFL).
With this fresh attachment, the cumulative value of assets attached or seized in various investigations involving the group has reached approximately ₹23,100 crore, according to the ED.
₹510 Crore Fresh Asset Attachment
The latest action covers two separate investigations:
- Reliance Communications: Assets worth ₹247.12 crore attached in an alleged bank fraud case.
- Reliance Home Finance and Reliance Commercial Finance: Assets worth ₹263.05 crore attached in their alleged bank fraud cases.
The attached properties include aircraft, land parcels, office premises, windmills, bank balances, fixed deposits, investments and receivables.
Two Aircraft, Six Land Parcels and Windmills
In the Reliance Communications case, the ED has attached two chartered aircraft:
- Dassault Falcon 2000
- Embraer EMB-135BJ
The attachment also includes six land parcels and office premises in Maharashtra.
In the Reliance Home Finance and Reliance Commercial Finance cases, the agency has attached two windmills in Tamil Nadu, along with bank balances, fixed deposits, investments and receivables.
Six Companies Under Investigation
The ED’s investigation covers six companies associated with the Reliance Anil Ambani Group:
- Reliance Communications Limited
- Reliance Home Finance Limited
- Reliance Commercial Finance Limited
- Reliance Infrastructure Limited
- Reliance Power Limited
- Reliance Capital Limited
The investigation was initiated based on multiple FIRs registered by the Central Bureau of Investigation (CBI) and the Economic Offences Wings of Delhi and Mumbai Police.
The agency has also investigated two cases under the Foreign Exchange Management Act (FEMA).
ED’s Allegations
- According to the Enforcement Directorate, its investigation has revealed alleged siphoning of public funds from banks and financial institutions, misuse of the Insolvency and Bankruptcy Code (IBC) to ring fence corporate assets for personal benefit, and alleged diversion of funds from India to offshore tax havens.
- The agency has further alleged that a substantial portion of the funds was used for the individual benefit of promoters and their family members.
- These allegations are part of the ongoing investigation and have not been established as final judicial findings.
Arrests and Legal Proceedings
- The ED has reportedly arrested 10 individuals in these cases and filed six prosecution complaints under the Prevention of Money Laundering Act (PMLA).
- The agency has also filed a complaint under FEMA.
- The latest attachment forms part of the broader investigation into alleged financial irregularities involving several group companies and their dealings with banks and financial institutions.
Important Clarification
- The ₹23,100 crore figure represents the cumulative value of assets attached or seized across multiple investigations. It does not mean that ₹23,100 crore was newly attached in the latest action.
- The fresh attachment announced in this round is approximately ₹510.17 crore.
- An asset attachment is an enforcement action during an investigation and does not, by itself, establish guilt. The allegations remain subject to legal proceedings.
Business Galaxy will continue to report verified developments in the investigation and any official responses from the companies concerned.
