ED Seizes Anil Ambani Group Properties Worth Rs 3,000 Crore for Fund Laundering
The Enforcement Directorate (ED) has intensified its probe into Anil Ambani and his Reliance group by seizing properties valued at over ₹3,000 crore. This action marks a significant escalation in the ongoing investigation into alleged money laundering activities.
Details of Seized Properties
The attached properties include Ambani’s residence in Pali Hill, Bandra, along with various flats, plots, and offices linked to Reliance Communication and Reliance Infrastructure Ltd. These assets are located in major cities such as:
- Mumbai
- Delhi
- Noida
- Goa
- Pune
- Hyderabad
- Chennai
Key Locations and Value of Alleged Funds
Among the significant properties seized is the Reliance Centre, situated at Hotel Ranjit in central Delhi. This office, which spans over three acres, is strategically located between Ramlila Ground and Ranjit Singh flyover.
Investigators allege that the Ambani group misappropriated over ₹20,000 crore in bank funds. These funds were supposedly diverted to shell companies and subsidiaries with the intent to siphon proceeds unlawfully.
Ongoing Investigations and Actions
As part of the investigation, the ED has conducted multiple searches at various locations associated with Ambani and his partners since July. Anil Ambani himself was summoned for questioning at the ED’s Delhi headquarters on August 5. A travel ban is currently in effect for Ambani, restricting his ability to leave the country.
Funding Diversion Allegations
The ED’s action stems from two FIRs filed by the Central Bureau of Investigation (CBI) regarding alleged fraudulent bank loans exceeding ₹13,600 crore, particularly involving Reliance Communication. The investigation hints at complex financial activities, including round-tripping, where substantial amounts of loans were redirected back into the accounts of Reliance entities.
With ongoing investigations, more property attachments are anticipated in the following weeks.
As of now, the Reliance group has refrained from commenting on these developments. The ED’s investigation continues to unfold amid serious accusations of financial misconduct.
