The Enforcement Directorate (ED) has provisionally attached assets worth Rs 3,034 crore as part of its ongoing money laundering investigation into companies linked to the Reliance Anil Ambani Group (RAAG), significantly intensifying scrutiny on the conglomerate’s financial dealings.
Key Highlights
- ED attaches Rs 3,034 crore assets in Reliance Anil Ambani Group money laundering investigation under PMLA.
- Total seized assets cross Rs 19,344 crore; Ambani family calls properties legacy and denies wrongdoing.
The action, carried out under the Prevention of Money Laundering Act, 2002 (PMLA), includes properties associated with Reliance Communications and Reliance Infrastructure. These comprise a premium residential flat in Mumbai’s Usha Kiran building, a farmhouse in Khandala, land parcels in Sanand near Ahmedabad, and 7.71 crore shares of Reliance Infrastructure held through the RiseE Trust structure.
With this latest attachment, the total value of assets seized in cases linked to the group has crossed Rs 19,344 crore, reflecting the scale of the ongoing investigation into alleged bank fraud and diversion of funds.
According to the ED, the provisional attachment has been made to prevent dissipation of assets and safeguard the interests of lenders and the public, as the probe continues into alleged irregularities involving loans extended by multiple financial institutions.
Responding to the development, the Anil Ambani family clarified that several of the attached properties are long-held legacy assets.
“With reference to the Provisional Attachment Order issued by the ED, we wish to clarify the following: The Usha Kiran and Khandala properties are legacy family assets acquired over four decades ago. MICA is an AICTE-recognised charitable institution operating independently since 1991, and the shareholding under RiseE Infinity has been publicly disclosed since 2021,” according to the statement.
The family further emphasised that a provisional attachment does not imply guilt and confirmed that the matter will be contested before the adjudicating authority in accordance with legal provisions.
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Ongoing Investigation
The ED probe, backed by multiple complaints from public sector banks and financial institutions, is examining alleged diversion and laundering of funds by RAAG entities. Investigators have indicated that the attached assets were allegedly structured to shield them from liabilities arising from unpaid loans.
The latest move marks another significant step in one of India’s largest ongoing financial investigations, with authorities continuing to trace assets and financial flows linked to the case.
