Business · India Bureau
ED seizes Rs 510 crore assets from Reliance Anil Ambani Group in fraud probe
The Enforcement Directorate has attached assets valued at Rs 510 crore, including two aircraft, as part of investigations into alleged money laundering linked to bank fraud at entities within the Reliance Anil Ambani Group.
LSN India ·
The federal agency issued a provisional attachment order under the Prevention of Money Laundering Act on Tuesday, targeting assets connected to fraud allegations spanning multiple group entities. The investigation centers on alleged bank fraud totaling over Rs 510 crore across Reliance Home Finance Limited, Reliance Commercial Finance Ltd., and Reliance Communication Ltd.
In the Reliance Communication case, authorities seized two chartered aircraft—a Dassault Falcon 2000 and an Embraer—along with six parcels of land and an office premise in Maharashtra. The separate investigation into Reliance Home Finance and Reliance Commercial Finance resulted in the attachment of wind mills located in Tamil Nadu, bank balances, fixed deposits, and various investment holdings.
The Enforcement Directorate's action represents a significant escalation in its examination of financial irregularities within the conglomerate. Officials claimed the probe uncovered evidence suggesting involvement in money laundering activities related to the alleged frauds, though further details regarding specific findings remain undisclosed. The provisional attachment order permits authorities to prevent the disposal or transfer of identified assets while investigations continue.