ED Intensifies Probe: ₹581 Crore Assets of Reliance Group Attached

The Enforcement Directorate (ED) intensifies its investigation into Anil Ambani's Reliance Group by seizing assets worth over ₹581 crore from Reliance Home Finance and Reliance Commercial Finance, escalating the ongoing financial scrutiny.

Photograph: Francis Mascarenhas/Reuters

Key Points

The Enforcement Directorate (ED) has attached over ₹581 crore in assets belonging to Reliance Home Finance Limited (RHFL) and Reliance Commercial Finance Limited (RCFL), companies linked to Anil Ambani.
The attached properties include land parcels across multiple states in India, including Goa, Kerala, and Maharashtra.
This action follows search operations related to Reliance Power Limited under the Foreign Exchange Management Act (FEMA).
The cumulative asset attachment of Anil Ambani's Reliance Group has now reached ₹16,310 crore.
The investigation stems from a CBI FIR based on complaints from Yes Bank, Union Bank of India, and Bank of Maharashtra, alleging that over ₹11,000 crore in public funds raised by RHFL and RCFL became non-performing assets.

The Enforcement Directorate on Thursday said it has attached fresh assets worth more than Rs 581 crore of RHFL and RCFL, companies of Reliance Group Chairman Anil Ambani.

An order was issued on March 11 to attach land parcels in Goa, Kerala, Karnataka, Punjab, Tamil Nadu, Uttar Pradesh, Haryana, Jharkhand, Maharashtra, Delhi, West Bengal, Andhra Pradesh and Rajasthan, the Enforcement Directorate (ED) said in a statement.

The properties worth Rs 581.65 crore belong to Reliance Home Finance Limited (RHFL) and Reliance Commercial Finance Limited (RCFL), the agency said.

"The attachment follows search operations conducted on March 6 in the case against Reliance Power Limited under the Foreign Exchange Management Act (FEMA)," it said.

The ED had attached assets of Anil Ambani's Reliance Group earlier as well.

"The cumulative Reliance Anil Ambani Group attachment has reached Rs 16,310 crore," the ED said.

The probe stems from a CBI FIR filed against RCFL and RHFL based on complaints lodged by Yes Bank, Union Bank of India and Bank of Maharashtra.

It found that the two companies raised public funds from multiple banks and financial institutions, and more than Rs 11,000 crore of these funds turned into non-performing assets, the ED said.

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