The Enforcement Directorate (ED) has provisionally attached over 132 acres of land belonging to Dhirubhai Ambani Knowledge City in Navi Mumbai, valued at ₹4,462.81 crore, as part of its probe into alleged fund diversion by the Anil Dhirubhai Ambani Group. Earlier in the day, the agency also seized the Ambani family residence in Mumbai’s Pali Hill, the Reliance Centre in Delhi, and several properties across eight cities in connection with investigations into Reliance Home Finance and Reliance Commercial Finance.
Reliance Infrastructure clarified in a filing that business operations, shareholders, and employees remain unaffected, adding that Anil Ambani has not been on its board for over 3.5 years. The latest attachment, made under the Prevention of Money Laundering Act, relates to bank fraud cases involving Reliance Communications (RCOM). With this, the total value of ED’s attached Reliance Group assets exceeds ₹7,500 crore.
The probe found that between 2010 and 2012, RCOM and affiliates took loans worth ₹40,185 crore, later declared fraudulent by five banks, and diverted thousands of crores through related parties, mutual funds, and overseas remittances. Investigations continue.