Federal Agency Seizes Over ₹3,000 Crore in Anil Ambani Group Assets

Federal investigators have provisionally attached 40 properties valued at approximately ₹3,084 crore linked to the Anil Ambani Group. The Enforcement Directorate (ED) action, spanning assets from Mumbai to Kancheepuram, targets office buildings, residential units, and land parcels. This seizure is a major development in an ongoing money laundering probe into alleged loan fraud involving the industrialist's companies.

The attachment orders were finalized on October 31 under the Prevention of Money Laundering Act (PMLA). The investigation centers on alleged diversion and laundering of public funds by two group companies, Reliance Home Finance Limited (RHFL) and Reliance Commercial Finance Ltd (RCFL).

According to the ED, Yes Bank invested heavily in these two firms between 2017 and 2019, committing ₹2,965 crore to RHFL and ₹2,045 crore to RCFL. By December 2019, these investments were declared non-performing, with outstanding dues exceeding ₹3,300 crore combined.

Investigators allege this arrangement was a workaround to bypass market regulations. The agency found that direct investment from the erstwhile Reliance Nippon Mutual Fund into other Anil Ambani Group companies was prohibited by SEBI’s conflict-of-interest framework. To circumvent this, the ED claims that money invested by the general public in the mutual fund was indirectly routed through Yes Bank. These funds allegedly landed with Anil Ambani Group companies.

The probe uncovered what the agency described as "serious control failures" in how loans were processed. Funds were reportedly diverted and siphoned off after being extended to entities linked to the Reliance group.

Investigators highlighted numerous irregularities, including loans being processed with extreme speed, often on the same day as the application. In some instances, funds were disbursed even before a formal application was received. The ED spokesperson noted this would only be possible if the applicant "time-travelled." The agency also found that essential checks like field investigations were waived, documents were left blank or overwritten, and many borrowers had weak financial standing.

The ED stated it continues to trace the proceeds of crime and that any recoveries will "ultimately benefit the general public." This action is part of a wider probe that also includes investigations into Reliance Communications Ltd (RCOM) for allegedly diverting thousands of crores.