ED attaches ₹3,034 crore Anil Ambani Group assets in RCom fraud case
Synopsis
The ED has attached another ₹3,034.90 crore in assets tied to Anil Ambani's Reliance Communications, crossing a cumulative ₹19,344 crore in RAAG-linked attachments. A Supreme Court-mandated SIT is overseeing the case, which involves alleged diversion of over ₹40,185 crore in loans from SBI, PNB, Bank of Baroda, and LIC — with a private family trust allegedly used to shield assets from lender claims.
Key Takeaways
The ED provisionally attached assets worth ₹3,034.90 crore in the RCom bank fraud case under Section 5 of PMLA .
Total attachments in Reliance Anil Ambani Group (RAAG) cases now exceed ₹19,344 crore .
Attached assets include a flat in Mumbai , a farmhouse in Khandala, Pune , a land parcel in Sanand, Ahmedabad , and 7.71 crore shares of Reliance Infrastructure Ltd.
The RiseE Trust , a private family trust of the Anil Ambani family, is alleged to have been used to shield assets from lender liabilities.
RCom and group companies have an outstanding loan amount of ₹40,185 crore from domestic and foreign lenders.
A Supreme Court -mandated SIT is overseeing the investigation; further probe is in progress.
The Enforcement Directorate (ED) has provisionally attached assets worth ₹3,034.90 crore in the Reliance Communications (RCom) Ltd bank fraud case, pushing the total attachment in Reliance Anil Ambani Group (RAAG) cases to over ₹19,344 crore, according to an agency statement issued on Tuesday, 29 April 2025. The action was taken under Section 5 of the Prevention of Money Laundering Act (PMLA) to prevent dissipation of assets and protect the interests of lender banks and the public.
Key Assets Attached
The latest round of attachments includes a flat in the Usha Kiran Building, Mumbai, a farmhouse in Khandala, Pune, and a land parcel in Sanand, Ahmedabad. Additionally, 7.71 crore shares of Reliance Infrastructure Ltd, held by M/s RiseE Infinity Pvt Ltd, were also attached. RiseE Infinity is a group entity of Anil Ambani operating under the RiseE Trust umbrella — a private family trust set up for wealth preservation and resource generation by members of Anil Ambani's family.
What the ED Alleges
According to the ED statement, the RiseE Trust was structured to shield assets from the personal liabilities of Anil D. Ambani, including personal guarantees extended by him to lender banks against loans sanctioned to RCom. The agency alleged that the properties were intended to benefit the Anil Ambani family rather than the distressed public-sector banks whose loans turned non-performing assets (NPAs).
The ED investigation was initiated on the basis of multiple Central Bureau of Investigation (CBI) FIRs registered on complaints filed by the State Bank of India (SBI), Punjab National Bank (PNB), Bank of Baroda, and Life Insurance Corporation of India (LIC) against RCom, Anil D. Ambani, and others. RCom and its group companies had availed loans from domestic and foreign lenders, of which a total outstanding amount of ₹40,185 crore remains unpaid.
Supreme Court-Mandated SIT Oversight
The investigation is being conducted by a Special Investigation Team (SIT) constituted on the directions of the Supreme Court, which is overseeing the RAAG cases involving alleged diversion and laundering of bank and public funds. This institutional oversight underscores the gravity of the case and the scale of alleged financial misconduct across the group's entities.
What Happens to Attached Assets
Under Section 8 of PMLA, confiscated property can be restored to legitimate claimants who suffered losses — in this case, the victim banks. The ED stated that the attachment preserves asset value so that, after due legal process, public money can be recovered and restored to lender banks and ultimately the general public. The agency added that further investigation in the case is in progress.
This is the latest in a series of enforcement actions against the RAAG, with total attachments now exceeding ₹19,344 crore — a figure that reflects the cumulative scale of the alleged fraud and the ongoing effort to recover public funds.
Point of View
With cumulative ED attachments now topping ₹19,344 crore. The alleged use of the RiseE Trust to ring-fence family wealth from personal guarantees given to public-sector banks raises pointed questions about how promoter liability is structured in Indian conglomerates. With a Supreme Court-mandated SIT in charge, the case carries unusual institutional weight — but the real test will be whether attached assets translate into actual recoveries for SBI, PNB, and LIC, whose depositors and policyholders ultimately bear the cost of these NPAs.
NationPress
10 Jul 2026
Frequently Asked Questions
What assets has the ED attached in the RCom bank fraud case?
The ED has provisionally attached assets worth ₹3,034.90 crore, including a flat in Mumbai's Usha Kiran Building, a farmhouse in Khandala (Pune), a land parcel in Sanand (Ahmedabad), and 7.71 crore shares of Reliance Infrastructure Ltd held by RiseE Infinity Pvt Ltd.
What is the total ED attachment in Anil Ambani Group cases?
Total provisional attachments in Reliance Anil Ambani Group (RAAG) cases have crossed ₹19,344 crore following the latest action. The ED has been pursuing multiple cases involving alleged diversion and laundering of bank and public funds across the group.
What is the RiseE Trust and why is it significant?
The RiseE Trust is a private family trust of the Anil Ambani family, allegedly set up to aggregate and preserve family properties while shielding them from personal guarantees Anil Ambani extended to lender banks for RCom loans. The ED has attached shares held by RiseE Infinity Pvt Ltd, a group entity under this trust.
Which banks filed complaints that triggered the ED investigation?
The ED investigation was initiated based on CBI FIRs filed on complaints from the State Bank of India (SBI), Punjab National Bank (PNB), Bank of Baroda, and Life Insurance Corporation of India (LIC) against RCom, Anil D. Ambani, and others.
What happens to the attached assets after legal proceedings?
Under Section 8 of PMLA, confiscated properties can be restored to legitimate claimants who suffered losses. In this case, that means the victim banks — and ultimately the general public — stand to recover funds if the attachment is upheld through the legal process.
