The Enforcement Directorate (ED) has provisionally attached fresh assets valued at over ₹1,452.51 crore linked to businessman Anil Ambani’s Reliance Group, including Reliance Communications (RCOM) and associated entities. The attached properties include multiple buildings at the Dhirubhai Ambani Knowledge City (DAKC) and Millennium Business Park in Navi Mumbai, along with land parcels and buildings in Pune, Chennai, and Bhubaneswar. This step is part of an ongoing money laundering investigation stemming from alleged financial irregularities related to bank loan fraud involving RCOM, Reliance Commercial Finance Ltd, and Reliance Home Finance Ltd. With this latest action, the total value of assets seized in the case stands at approximately ₹8,997 crore.
Allegations and Funds Diversion:
The ED’s probe details extensive misuse of loans, with over ₹13,600 crore diverted to evergreen loans, ₹12,600 crore rerouted to connected parties, and approximately ₹1,800 crore invested in fixed deposits and mutual funds that were later liquidated and redirected to group entities. The agency further uncovered misuse of bill discounting schemes to funnel funds improperly and highlighted instances of loan siphoning outside India through foreign remittances. These revelations form the backbone of allegations that several loans taken between 2010 and 2012 remain outstanding, with nine banks officially labeling these accounts as fraudulent. The investigation stems from an FIR registered by the Central Bureau of Investigation (CBI), naming Anil Ambani and others under sections of the Indian Penal Code and Prevention of Corruption Act.
Reliance Group’s Response and Current Status:
The Reliance Group confirmed that the attached assets clearly belong to Reliance Communications (RCOM), which has been in bankruptcy since 2019 and has not been a member of the current Reliance Group for the previous six years, in response to the ED’s most recent attachment order. The company emphasized that Anil Ambani has not been involved with RCOM since his resignation in 2019 and claimed there is no link between these assets and the current operations of Reliance Infrastructure and Reliance Power. Additionally, the group confirmed that the performance and future prospects of its existing operations are unaffected by the most recent attachment order.
Supreme Court Seeks Responses on Bank Fraud Allegations Against Reliance Group:
A Public Interest Litigation (PIL) filed by former Union secretary EAS Sarma has escalated the scrutiny on the Anil Ambani-led Reliance Group. The plea urges the Supreme Court to initiate a court-monitored investigation into the alleged large-scale bank fraud involving Reliance Communications Ltd and its subsidiaries. It highlights accused institutional negligence due to a five-year delay in filing the FIR by the lending bank, which the petitioner suspects may involve complicity of bank officials. Despite a 2020 forensic audit that exposed fund diversions, fictitious transactions, and the use of shell companies, statutory action had been delayed until August 2025. The petitioner argues that central agencies like CBI and ED have excluded scrutiny of public officials potentially complicit in these financial irregularities, highlighting the need for judiciary-led oversight to ensure transparency and justice
Legal Proceedings and Future Outlook:
As part of the probe, the ED questioned Anil Ambani in August 2025. In a related foreign exchange violation case, the agency has issued a new summons. The extensive asset attachment highlights the Reliance Anil Dhirubhai Ambani Group’s growing crackdown on alleged financial misconduct. The group’s financial situation and business activities will probably be impacted by the increasing enforcement measures while legal disputes continue. The continuous investigation shows that Indian authorities are taking a firm stand to recover public monies and stop dishonest business practices in large corporations.
