New Delhi — The Enforcement Directorate has attached additional assets worth ₹1,120 crore belonging to companies under the Reliance Anil Ambani Group as part of its ongoing investigation into alleged financial irregularities involving Reliance Home Finance Limited, Reliance Commercial Finance Limited and Yes Bank.
The latest attachment covers over 18 properties along with bank deposits, fixed deposits and unlisted shareholdings. Among these are seven assets linked to Reliance Infrastructure Limited, two belonging to Reliance Power Limited and nine associated with Reliance Value Services Private Limited. The agency has also seized fixed deposits and related investments tied to Reliance Value Service Pvt Ltd, Reliance Venture Asset Management Pvt Ltd, Phi Management Solutions Pvt Ltd, Adhar Property Consultancy Pvt Ltd and Gamesa Investment Management Pvt Ltd.
With this action, the total value of assets attached in the case has now risen to ₹10,117 crore, the ED stated. The agency had earlier attached properties worth ₹8,997 crore in fraud cases involving Reliance Communications, RHFL and RCFL.
According to investigators, group companies including Reliance Communications, RHFL, RCFL, Reliance Infrastructure and Reliance Power diverted substantial amounts of public money. The agency highlighted that Yes Bank had invested ₹2,965 crore in RHFL and ₹2,045 crore in RCFL between 2017 and 2019, funds that later turned into non-performing assets.
The probe alleges that more than ₹11,000 crore was routed through mutual fund investments and Yes Bank lending channels using structures designed to bypass SEBI’s conflict-of-interest norms. ED officials claim these funds were moved through a circuitous chain involving Reliance Nippon Mutual Fund and Yes Bank before reaching group entities.
In a parallel investigation, the agency is also examining a CBI FIR related to loans worth ₹40,185 crore taken by Reliance Communications, Anil Ambani and associates between 2010 and 2012. Nine banks have categorised these accounts as fraudulent, according to the ED.
The agency’s findings suggest that ₹13,600 crore was used for loan evergreening, ₹12,600 crore was transferred to related entities, and more than ₹1,800 crore was placed in investments before being diverted. Officials further allege that funds were moved abroad through outward remittances and that bill-discounting mechanisms were misused to dissipate money.
The ED said it remains focused on tracing proceeds of crime and restoring them to the rightful stakeholders.
