The Enforcement Directorate (ED) has attached assets worth ₹3,034 crore in connection with its money laundering investigation into the Reliance Communications (RCom) bank fraud case. The assets are linked to companies associated with Anil Ambani-led Reliance Group.
According to officials, the properties attached include a high-value residential flat in Mumbai, a farmhouse in Khandala, land parcels in Gujarat and shares of Reliance Infrastructure. The action has been taken under the Prevention of Money Laundering Act (PMLA), which allows authorities to provisionally seize assets suspected to be linked to proceeds of crime.
The case is related to alleged irregularities in loans taken by Reliance Communications and connected entities from a consortium of banks. Investigators are examining whether funds were diverted and whether assets were acquired using money connected to the alleged fraud.
With the latest move, the total value of assets attached in matters involving the Reliance Anil Ambani Group has risen sharply over the course of the investigation. Officials said the probe is continuing and more findings may emerge as financial records and transactions are reviewed.
Reliance Communications was once one of India’s leading telecom companies but later faced mounting debt and financial stress. The company entered insolvency proceedings after failing to repay lenders, leading to wider scrutiny by banks and investigative agencies.
The ED’s action is a provisional step meant to prevent the sale, transfer or disposal of the assets while the investigation continues. The individuals or companies concerned have the right to challenge the attachment before legal authorities.
The development adds to the financial and legal challenges faced by the Anil Ambani group, which has been working through debt issues and legacy disputes in recent years.
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