Mumbai: In a major crackdown under the Prevention of Money Laundering Act (PMLA), the Enforcement Directorate (ED) provisionally attached properties worth Rs 3,084 crore linked to the Reliance Anil Ambani Group (R-ADAG). The attachment orders, issued on October 31, 2025, cover a sprawling network of assets across multiple Indian cities, including the Ambani family’s iconic residence at Pali Hill in Bandra (West), Mumbai.
Reliance Centre In Delhi, Several Other Offices Attached
According to the ED, the attached assets include prime properties such as the Reliance Centre in New Delhi and several office premises, residential units and land parcels located in Mumbai, Pune, Thane, Noida, Ghaziabad, Hyderabad, Chennai (including Kancheepuram) and East Godavari. The attachment follows a detailed probe into alleged diversion and laundering of public funds raised by Reliance Home Finance Ltd. (RHFL) and Reliance Commercial Finance Ltd. (RCFL), both part of the Anil Ambani-led Reliance Group.
Reliance Centre on Maharaja Ranjeet Singh Marg in New Delhi |
The case traces back to 2017–2019, when Yes Bank invested Rs 2,965 crore in RHFL instruments and Rs 2,045 crore in RCFL instruments. By December 2019, these investments turned into non-performing assets, leaving Rs 1,353.5 crore outstanding for RHFL and Rs 1,984 crore for RCFL. The ED investigation revealed that these investments were indirectly routed from Reliance Nippon Mutual Fund through Yes Bank to Reliance Group companies, circumventing SEBI’s mutual fund conflict-of-interest norms.
Reliance Centre on Maharaja Ranjeet Singh Marg in New Delhi |
Funds Diverted Through Shell Companies
According to ED, these funds were funneled through a network of shell entities and connected firms under the guise of General Purpose Corporate Loans. Shockingly, many loans were sanctioned, documented and even disbursed on the same day, some even before formal applications were submitted. Several borrowers had negligible business activity or weak financials, with loan documents left undated or blank. The agency described these as intentional and consistent control failures.
The probe also found that substantial portions of the loans were diverted to group-linked companies, reflecting a larger pattern of fund siphoning. Parallel investigations into Reliance Communications Ltd. (RCOM) and its related entities have uncovered additional irregularities involving over Rs 13,600 crore. ED alleges Rs 12,600 crore was diverted to connected parties, while Rs 1,800 crore was parked in fixed deposits and mutual funds, later rerouted to Reliance-linked firms.
Anil Ambani Pali Hill House |
Offices & Apartments Across India Among Properties Attached
Among the major assets attached are the Ambani family’s Pali Hill residence in Bandra, Reliance Centre in New Delhi, offices at Nagin Mahal in Mumbai’s Churchgate, flats in Noida and Hyderabad and 29 luxury apartments in Chennai’s Adyar and OMR-Kottivakkam areas. The ED has said it will continue tracing the proceeds of crime to recover funds for the public and strengthen accountability in financial markets.
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