The Enforcement Directorate has provisionally attached assets worth around Rs 3,084 crore belonging to entities linked to the Reliance Anil Ambani Group. The orders were issued on October 31, 2025, under Section 5(1) of the Prevention of Money Laundering Act. The attached properties include the Pali Hill residence in Bandra West, the Reliance Centre in New Delhi and multiple assets spread across Delhi, Noida, Ghaziabad, Mumbai, Pune, Thane, Hyderabad, Chennai including Kancheepuram and East Godavari. These consist of office spaces, residential units and land parcels.
Funds were allegedly diverted through Yes Bank exposure
The investigation relates to the suspected diversion of public funds raised by Reliance Home Finance Ltd and Reliance Commercial Finance Ltd. During 2017 to 2019 Yes Bank invested Rs 2,965 crore in RHFL instruments and Rs 2,045 crore in RCFL instruments. These later turned non-performing by December 2019, with Rs 1,353.50 crore outstanding for RHFL and Rs 1,984 crore for RCFL. ED found that direct investment by Reliance Nippon Mutual Fund into Anil Ambani Group's financial companies was barred under SEBI’s conflict of interest rules. The agency alleges that money invested by the public in the mutual fund was indirectly routed through Yes Bank exposures into these Anil Ambani-linked entities.
Serious control failures alleged by ED
The agency claims that RHFL and RCFL extended loans to group-linked entities with major procedural violations. ED observed onlending, routing of funds, diversion and siphoning. According to ED, loans were processed in ultra-short timelines. In some cases, disbursal according to ED precedes sanction. The agency says documents were left blank or undated, applicants had negligible operations and security creation was weak or unregistered.
Parallel probe in RCOM-related loan fraud
The ED has also widened its probe in relation to Reliance Communications Ltd and associated entities. The agency says the group diverted more than Rs 13,600 crore in evergreening loans. Around Rs 12,600 crore was allegedly diverted to connected parties and more than Rs 1,800 crore was placed in fixed deposits and mutual funds which were later liquidated and routed back. Misuse of bill discounting for channelling funds to related parties has also been flagged.
