Have assets worth Rs 10,117 crore been attached to the Anil Ambani group?
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Synopsis
The Enforcement Directorate has taken serious action against Anil Ambani's Reliance Group by provisionally attaching assets valued at Rs 10,117 crore. This move highlights the ongoing financial scrutiny and accountability measures against influential business figures in India, raising significant questions about the management of public funds and corporate governance.
Key Takeaways
- ED action: Assets worth Rs 10,117 crore attached.
- Entities involved: Reliance Communications, Reliance Home Finance, and others.
- Fraudulent practices: Uncovered diversion of public funds.
- Previous attachments: Over Rs 8,997 crore linked to bank fraud.
- Ongoing investigations: CBI's FIR against Anil Ambani and associates.
New Delhi, Dec 5 (NationPress) The Enforcement Directorate (ED) revealed on Friday that it has provisionally attached assets and properties associated with the Anil Ambani-led Reliance Group, amounting to Rs 10,117 crore thus far.
In its latest operation, the financial watchdog has attached over 18 assets, including fixed deposits, bank balances, and unquoted investments in Reliance Anil Ambani Group, specifically related to the Yes Bank Fraud Case and valued at Rs 1,120 crore in Reliance Home Finance Limited, Reliance Commercial Finance Limited, and more.
The seized assets consist of seven properties from Reliance Infrastructure Limited, two from Reliance Power Limited, and nine from Reliance Value Service Private Limited.
Additionally, fixed deposits linked to Reliance Value Service Private Limited, Reliance Venture Asset Management Private Limited, Phi Management Solutions Private Limited, Adhar Property Consultancy Pvt Ltd, Gamesa Investment Management Private Limited, along with further investments in unquoted holdings by Reliance Venture Asset Management Private Limited and Phi Management Solutions Private Limited, have been included.
Previously, the ED had also attached assets exceeding Rs 8,997 crore concerning bank fraud cases involving Reliance Communications Ltd. (RCOM), Reliance Commercial Finance Ltd., and Reliance Home Finance Ltd.
As a result, the total cumulative attachment for the group has now reached Rs 10,117 crore. The ED asserts that it has uncovered fraudulent diversion of public funds by various Reliance Anil Ambani group companies, including Reliance Communications Ltd, Reliance Home Finance Ltd (RHFL), Reliance Commercial Finance Ltd (RCFL), Reliance Infrastructure Ltd (RIL), and Reliance Power Ltd (RHFL).
The ED's findings indicate that between 2017 and 2019, Yes Bank invested Rs 2,965 crore in RHFL instruments and Rs 2,045 crore in RCFL instruments, which turned into non-performing investments by December 2019.
The outstanding debts stood at Rs 1,353.50 crore for RHFL and Rs 1,984 crore for RCFL. The investigations revealed that RHFL and RCFL received over Rs 11,000 crore in public funds.
Moreover, the ED has initiated a probe based on an FIR filed by the CBI under various sections of the Indian Penal Code, 1860, and the Prevention of Corruption Act, 1989, targeting RCOM, Anil Ambani, and others.
Specifically, RCOM and its affiliated entities are alleged to have diverted more than Rs 13,600 crore for loan evergreening, with over Rs 12,600 crore redirected to connected parties and over Rs 1,800 crore invested in fixed deposits/mutual funds, which were largely liquidated for redistribution to group companies, as detailed in an ED statement.
Point of View
It is our responsibility to uphold the principles of transparency and integrity, especially when influential business figures are involved. This case serves as a reminder of the importance of vigilance in safeguarding public interests.
NationPress
05/12/2025
Frequently Asked Questions
What is the total value of the assets attached by the ED?
The Enforcement Directorate has attached assets worth Rs 10,117 crore linked to the Anil Ambani-led Reliance Group.
What entities are involved in the ED's investigation?
The investigation involves various entities under the Reliance Anil Ambani Group, including Reliance Communications Ltd., Reliance Home Finance Ltd., and Reliance Commercial Finance Ltd.
What prompted the ED's action against the Reliance Group?
The ED's actions are based on findings of fraudulent diversion of public funds by various entities within the Reliance Group.
What is the status of the previous attachments made by the ED?
The ED had previously attached assets exceeding Rs 8,997 crore related to bank fraud cases involving Reliance Communications and its subsidiaries.
Is there an ongoing investigation by the CBI in this matter?
Yes, the ED's investigation is based on an FIR registered by the CBI against RCOM, Anil Ambani, and others under various sections of the Indian Penal Code and the Prevention of Corruption Act.
