ED Attaches Properties Worth ₹581.65 Crore in Reliance Anil Ambani Group Financial Probe
Assets across 13 states provisionally attached as Enforcement Directorate intensifies investigation into alleged diversion of public funds linked to RHFL and RCFL.
The Enforcement Directorate (ED) has provisionally attached 31 immovable properties worth ₹581.65 crore in connection with its ongoing investigation into alleged financial irregularities involving Reliance Home Finance Limited (RHFL) and Reliance Commercial Finance Limited (RCFL).
According to officials, the attachment was carried out on March 11, 2026, following search operations conducted earlier on March 6 in the case related to Reliance Power Limited under the provisions of the Foreign Exchange Management Act (FEMA).
Properties Spread Across Multiple States
The attached properties mainly consist of land parcels located across several states, including Goa, Kerala, Karnataka, Punjab, Tamil Nadu, Uttar Pradesh, Haryana, Jharkhand, Maharashtra, Delhi, West Bengal, Andhra Pradesh and Rajasthan.
Authorities stated that these assets are believed to represent the proceeds of crime linked to the alleged diversion of public funds.
Total Attachments Cross ₹16,000 Crore
The latest action adds to a series of enforcement measures taken earlier in cases involving companies of the Reliance Anil Ambani Group (RAAGA).
Previously, the ED had already attached properties worth over ₹15,729 crore in bank fraud investigations linked to RCFL, RHFL and Reliance Communications (RCOM). With the recent attachment, the total value of assets attached in Reliance Anil Ambani Group-related cases has reached approximately ₹16,310 crore.
Assets and Bank Accounts Seized During the investigation under the Prevention of Money Laundering Act (PMLA) and FEMA, the ED also froze or seized assets worth ₹2.48 crore, including fixed deposits, mutual funds and cash.
Additionally, the agency seized balances in 13 bank accounts of Reliance Infrastructure Limited (R-Infra) amounting to ₹77.86 crore under Section 37A of FEMA.
Investigation Triggered by CBI FIRs
The ED began its investigation on July 22, 2025, based on multiple FIRs registered by the Central Bureau of Investigation (CBI). The cases were filed under Sections 120-B and 420 of the Indian Penal Code and Section 13 of the Prevention of Corruption Act, 1988.
The complaints were lodged by Yes Bank, Union Bank of India and Bank of Maharashtra, alleging financial irregularities by Reliance Commercial Finance Limited and Reliance Home Finance Limited.
Alleged Diversion of Public Funds
According to investigators, RHFL and RCFL raised large amounts of public funds from banks and financial institutions, but more than ₹11,000 crore of these funds eventually turned into Non-Performing Assets (NPAs).
The ED alleges that the funds were diverted to various companies within the Reliance Group, including:
Reliance Infrastructure Limited
Reliance Power Limited
Reliance Communications Limited
Reliance Capital Limited
Officials claim the funds were routed through multiple shell or dummy companies controlled by the group, many of which had little financial capacity and no significant business operations.
Probe into Alleged Financial Modus Operandi
Investigators say they have identified a complex network of shell entities used to siphon public funds. The agency believes these entities were created primarily to move funds between group companies and obscure the financial trail.
The ED stated that the provisional attachment order issued on March 11, 2026 represents the estimated value of proceeds of crime identified during the investigation.
Investigation Continues The Enforcement Directorate has reiterated that it is actively pursuing financial crime cases and working to recover proceeds of crime for rightful claimants.
Officials confirmed that further investigation into the case is currently underway.
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Disclaimer: The information provided in this article is for general informational purposes only. While we endeavor to keep the information up to date and correct, News Setu makes no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability of the content. Any reliance you place on such information is strictly at your own risk.