The Enforcement Directorate (ED) stated in an attachment order issued late Thursday evening that it has provisionally attached 31 immovable properties worth ₹581.65 crore in connection with its investigation into Anil Ambani’s Reliance Home Finance Ltd (RHFL) and Reliance Commercial Finance Ltd (RCFL).
The ED action came after raids were conducted in a separate case related to Reliance Power Ltd. under the provisions of the Foreign Exchange Management Act (FEMA) on March 6.
According to the ED statement, 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.
The ED stated that earlier it had attached properties worth over ₹15,729 crore in bank fraud cases linked to RCFL, RHFL, and Reliance Communications. With the latest action, the cumulative value of assets attached in cases related to the Reliance Anil Ambani Group has reached ₹16,310 crore.
Following searches conducted under the Prevention of Money Laundering Act (PMLA) and FEMA, assets worth ₹2.48 crore in the form of fixed deposits, mutual funds, and cash were frozen or confiscated.
The ED has also seized balances amounting to ₹77.86 crore in 13 bank accounts of Reliance Infrastructure Limited under Section 37A of FEMA, according to its statement.
It may be recalled that RHFL and RCFL had raised public funds from several banks and financial institutions, of which more than ₹11,000 crore eventually turned into non-performing assets, the ED statement said.
The ED’s probe into the Anil Ambani-led Reliance Group began in July 2025 on the basis of multiple FIRs registered by the Central Bureau of Investigation (CBI) under criminal conspiracy and cheating provisions of the Indian Penal Code and the Prevention of Corruption Act.
The FIRs were filed following complaints from Yes Bank, Union Bank of India, as well as the Bank of Maharashtra.
According to the investigation, funds were allegedly diverted to several companies of the group, including Reliance Infrastructure, Reliance Power, Reliance Communications and Reliance Capital Ltd., through multiple shell or dummy entities allegedly controlled by the group.
Investigators claimed that these entities had negligible financial capacity and no significant business operations.
The ED stated that the attached properties represent the value of the alleged proceeds of crime. Further investigation in the case is underway, the statement added.