ED Seizes Rs 4,462 Crore Worth of Assets from Anil Ambani Group Including Knowledge City Land

New Delhi:

The Directorate of Enforcement has provisionally attached over 132 acres of land belonging to Dhirubhai Ambani Knowledge City in Navi Mumbai, valued at Rs 4,462.81 crore, in a significant enforcement action against the Anil Dhirubhai Ambani Group. This follows earlier attachments on the same day of a family residence in Mumbai's upscale Pali Hill, the Reliance Centre in Delhi, and properties across eight cities related to an investigation into fund diversion and laundering from Reliance Home Finance Limited and Reliance Commercial Finance Limited.

R-Infra stated in a regulatory filing that these actions have not impacted business operations, shareholders, employees, or other stakeholders. The company noted that Anil Ambani has not been on Reliance Infrastructure Limited's Board for more than 3.5 years.

The ED's attachment was executed under the Prevention of Money Laundering Act in connection with bank fraud cases involving Reliance Communications Ltd. (RCOM). With this latest action, the total value of properties attached from Reliance Group companies has surpassed Rs 7,500 crore.

Previous attachments by the ED included 42 properties worth over Rs 3,083 crore linked to RCOM, Reliance Commercial Finance Ltd., and Reliance Home Finance Ltd.

The investigation originated from a case filed by the Central Bureau of Investigation under various sections of the Indian Penal Code and Prevention of Corruption Act against RCOM, Anil Ambani, and others.

According to the ED, between 2010 and 2012, RCOM and its group entities obtained loans totaling Rs 40,185 crore from domestic and foreign lenders. Five banks subsequently classified these accounts as fraudulent.

The investigation revealed that borrowed funds were allegedly diverted to repay loans of other entities, routed to related parties, or invested in mutual funds—violating loan sanction terms.

The agency discovered that over Rs 13,600 crore was diverted for loan evergreening, Rs 12,600 crore was transferred to connected parties, and Rs 1,800 crore was invested in fixed deposits and mutual funds before being rerouted to group entities.

Additionally, the ED detected misuse of bill discounting and offshore fund siphoning through outward remittances.

The ED affirmed its commitment to pursuing financial offenders and ensuring that proceeds from crime are returned to rightful claimants. The investigation continues.