Enforcement Directorate attached Rs 3,034.90 crore assets in alleged bank fraud involving Reliance Communications. Total attachments in Reliance Anil Ambani Group cases now exceed Rs 19,344 crore under PMLA provisions.
The Enforcement Directorate (ED) has provisionally attached assets worth Rs 3,034.90 crore in connection with an alleged bank fraud involving Reliance Communications Ltd (RCom). With this latest action, the overall value of assets attached in cases related to the Reliance Anil Ambani Group has now surpassed Rs 19,344 crore, marking an important milestone in one of India’s major financial investigations.
The ED carried out the attachment under Section 5 of the Prevention of Money Laundering Act, 2002 (PMLA), which authorises authorities to provisionally seize properties suspected to be connected with money laundering. The purpose of such measures is to stop the concealment or removal of suspected proceeds and to safeguard the interests of banks as well as the public.
The case is currently being examined by a Special Investigation Team (SIT) set up in line with directions of the Supreme Court of India. The investigation concerns allegations of diversion and laundering of public funds by organisations linked to the group. The ED’s probe began on the basis of several FIRs registered by the Central Bureau of Investigation (CBI), following complaints from major financial institutions including State Bank of India, Punjab National Bank, Bank of Baroda, and Life Insurance Corporation of India.
As per the investigation, RCom and its group companies had taken loans totalling approximately ₹40,185 crore from both domestic and foreign lenders, with a large portion of these loans still not repaid. The ED’s findings suggest that certain assets associated with the promoter group were held through intricate ownership arrangements.
The attached properties include a high-value residential flat in the Usha Kiran Building in Mumbai, a farmhouse in Khandala near Pune, and a parcel of land in Sanand, Ahmedabad. In addition, 7.71 crore shares of Reliance Infrastructure Ltd have also been attached. These shares were held through Risee Infinity Pvt Ltd, under the Risee Trust, a private family trust associated with Anil Ambani.
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The ED has said that the Risee Trust was formed to consolidate wealth and generate resources by pooling assets. It also pointed out that personal guarantees provided by Anil Ambani to lenders were connected to these arrangements. According to the agency, the assets were effectively controlled and used by the Ambani family, rather than being made available to banks whose loans had become non-performing assets.
The ED further clarified that, under Section 8 of the PMLA, confiscated assets may eventually be restored to genuine claimants, including banks that suffered financial losses. The present attachment is meant to preserve the value of the assets while the legal process continues and recovery is carried out in accordance with law.
Earlier, Enforcement Directorate attached assets worth over Rs 3,000 crore linked to Anil Ambani in a money laundering probe under PMLA, covering his Pali Hill residence and multiple residential and commercial properties of Reliance Group entities.
The ED reiterated that the investigation remains ongoing and emphasised that it is focused on protecting the financial system and public funds by identifying and attaching assets allegedly involved in money laundering activities.
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