The Enforcement Directorate (ED) has taken significant action in its ongoing money-laundering investigation against the Reliance Anil Dhirubhai Ambani Group (RAAG) by attaching more than 40 immovable properties valued at approximately ₹3,084 crore. The move is part of a wider probe involving alleged financial irregularities by companies within the group.
Assets Under Attachment
The properties under the provisional attachment order include high-value residential and commercial real estate located in major cities such as Mumbai, Delhi, Pune, Goa, Hyderabad, and Chennai. Notable among them is a luxurious residence in Pali Hill, Bandra, Mumbai, reportedly linked to Anil Ambani himself.
Some of the attached assets are tied to group firms such as Reliance Communications Ltd. and Reliance Infrastructure Ltd. The properties consist of office spaces, apartments, and land parcels that the agency claims are connected to the proceeds of crime under the Prevention of Money Laundering Act (PMLA).
Background of the Probe
The ED’s action is connected to allegations of loan fraud and fund diversion involving the Reliance ADA Group. Reports suggest that the group secured large loans from financial institutions, including YES Bank, between 2017 and 2019. Investigators allege that portions of these funds were diverted or misused in violation of financial norms.
The ED is examining whether group companies used shell entities to launder money or round-trip funds and whether the loans were not utilized for their stated business purposes. Officials have cited “control failures and fund diversion” as grounds for seizure.
Impact on the Group and Legal Proceedings
The attachment of assets is expected to put considerable pressure on the Reliance ADA Group, which has already been reeling under debt defaults and insolvency proceedings in several of its subsidiaries. The ED has provided the group with an opportunity to present its case and submit relevant documents before further action is taken.
Legal experts note that the seizure doesn’t completely transfer property ownership but prevents sale, mortgage, or transfer during the investigation. It is viewed as a preventive measure to secure potential recovery of misused or misappropriated funds.
Broader Corporate and Legal Implications
This case underscores increasing scrutiny by Indian financial regulators into alleged corporate mismanagement and money-laundering involving high-profile industrial groups. The action also signals a stronger push toward accountability in public-fund lending and the use of banking credit by large conglomerates.
The Reliance ADA Group has yet to release an official statement in response to the latest action, but sources indicate that legal challenges are likely to follow as the probe progresses.
This development marks another chapter in the regulatory and financial challenges faced by Anil Ambani’s business empire, once a dominant player across telecom, infrastructure, and financial services sectors.
