Mumbai | November 3, 2025 | SKY LINK TIMES
ED Attaches Rs 3084 Crore Worth of Anil Ambani’s Reliance Properties:
In a major move against alleged corporate fund diversion, the Enforcement Directorate (ED) has provisionally attached more than 40 Reliance properties worth ₹3,084 crore linked to Anil Ambani’s Reliance Group, under the Prevention of Money Laundering Act (PMLA), Section 5(1).
The properties include office spaces, residential units, and land parcels spread across Mumbai, Delhi, Noida, Pune, Thane, Chennai, Hyderabad, Kancheepuram, and East Godavari, along with Ambani’s Pali Hill residence in Mumbai.
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Yes Bank–Reliance Loan Nexus Under ED Lens
According to the ED, the probe revolves around alleged diversion and laundering of public funds raised by Reliance Home Finance Ltd (RHFL) and Reliance Commercial Finance Ltd (RCFL).
Between 2017 and 2019, Yes Bank invested ₹2,965 crore in RHFL and ₹2,045 crore in RCFL, which later turned into non-performing assets (NPAs). By December 2019, around ₹3,337 crore remained unpaid.
Investigators allege that money collected from investors through Reliance Nippon Mutual Fund was illegally routed to Reliance entities via Yes Bank, bypassing SEBI’s conflict-of-interest rules.
Fund Diversion and Control Failures
The ED’s financial tracing uncovered a web of fund diversion where loans meant for business operations were instead channeled to Reliance-linked shell firms.
Officials found irregular loan processing, missing documents, and blank or altered agreements. Some loans were approved and disbursed on the same day, bypassing due diligence checks.
“Loans to related companies were given despite weak financials and inadequate securities,” an ED official reportedly said. “This pattern points to intentional control failures and systematic misuse of public money.”
CBI Chargesheet Reveals Criminal Conspiracy
A separate Central Bureau of Investigation (CBI) chargesheet filed last month detailed how former Yes Bank CEO Rana Kapoor allegedly colluded with Anil Ambani to execute fraudulent investments that led to over ₹2,700 crore in losses for Yes Bank.
The CBI termed the transactions a “criminal conspiracy”, stating that the loans were approved unilaterally and without proper scrutiny. Both agencies — the ED and CBI — are conducting parallel investigations into the case.
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Reliance Communications Loan Fraud Probe Intensifies
The ED has also accelerated its investigation into Reliance Communications Ltd (RCOM) and its subsidiaries over alleged loan frauds exceeding ₹13,600 crore.
Of this, more than ₹12,600 crore was routed to related entities, while ₹1,800 crore was temporarily parked in fixed deposits and mutual funds before being re-routed.
Investigators also uncovered misuse of bill discounting to siphon funds through intermediary firms. The ED stated it is now tracing the proceeds of crime and continuing to attach suspect assets.
What Lies Ahead
The ED’s asset freeze marks one of the largest enforcement actions in recent years against a corporate conglomerate. If confirmed in final adjudication, the attached assets could be used for public recovery.
Legal experts suggest the case could reshape regulatory oversight in corporate lending, mutual fund investments, and related-party transactions.
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