ED attaches Anil Ambani's assets worth over Rs 3,000 cr in money laundering case
The Enforcement Directorate issued four PMLA orders, attaching properties including his Mumbai residence and commercial assets across Delhi, Noida, Mumbai, Pune, and other cities
The Enforcement Directorate (ED) has attached assets worth over Rs 3,000 crore linked to Reliance Group chairman Anil Ambani, as part of a money-laundering investigation into his group companies, according to a PTI report quoting official sources on Monday (November 3).
ED attaches Anil Ambani’s properties
The federal probe agency has issued four provisional orders under the Prevention of Money Laundering Act (PMLA) to attach the properties, which include the 66-year-old businessman's residence in Pali Hill, Mumbai, as well as other residential and commercial assets owned by his group firms, the sources said.
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Among the attached properties are a plot of land belonging to Reliance Centre on Maharaja Ranjit Singh Marg in Delhi and multiple assets spread across the national capital, Noida, Ghaziabad, Mumbai, Pune, Thane, Hyderabad, Chennai, and East Godavari.
According to PTI, the total value of the attached assets amounts to Rs 3,084 crore.
Money laundering case
The case relates to the alleged diversion and laundering of public funds raised by Reliance Home Finance Ltd (RHFL) and Reliance Commercial Finance Ltd (RCFL).
Between 2017 and 2019, Yes Bank invested Rs 2,965 crore in RHFL instruments and Rs 2,045 crore in RCFL instruments.
Also Read: ED raids Anil Ambani group companies in Yes Bank loan 'fraud' case
By December 2019, these had turned into “non-performing” investments, with Rs 1,353.50 crore outstanding for RHFL and Rs 1,984 crore for RCFL, according to the ED.
Rs 17,000 cr-loans probed
The action against Anil Ambani concerns alleged financial irregularities and the collective "diversion" of loans valued at over Rs 17,000 crore by several group companies including Reliance Infrastructure.
Also Read: Anil Ambani appears before ED for questioning in bank loan 'fraud' probe; what is the case?
The businessman was questioned in the case by the ED in August, following searches at 35 premises linked to 50 companies and 25 individuals, including executives from his business group, in Mumbai on July 24.
The ED’s money-laundering case originates from a First Information Report (FIR) filed by the Central Bureau of Investigation (CBI).
(With agency inputs)