ED Attaches ₹3,000 Cr Assets Linked to Anil Ambani
New Delhi: The Enforcement Directorate (ED) has attached assets worth more than Rs 3,000 billion linked to Reliance Group Chairman Anil Ambani as part of its money laundering probe against group companies, official sources said on Monday. The federal investigation agency said it had issued four interim orders under the Prevention of Money Laundering Act (PMLA) to attach properties including 66-year-old Ambani’s house in Mumbai’s Pali Hill, among other residential and commercial properties of group companies.
A plot of land belonging to Reliance Center on Maharaja Ranjit Singh Marg in Delhi and many other assets in the national capital Noida, Ghaziabad, Mumbai, Pune, Thane, Hyderabad, Chennai and East Godavari were also annexed.
According to sources, the total value of the attached assets is Rs 3.084 billion.
The case is Reliance Home Finance Ltd. (RHFL) and Reliance Commercial Finance Ltd. It concerns the alleged diversion and laundering of public funds collected by (RCFL).
During 2017-2019, Yes Bank invested Rs 2.965 billion in RHFL instruments and Rs 2.045 Million in RCFL instruments.
According to the ED, these turned into “non-yielding” investments by December 2019; Rs 1,353.50 crore for RHFL and Rs 1,984 crore for RCFL were outstanding.
The case against Ambani relates to allegations of financial irregularities and bulk loan “diversion” pegged at more than Rs 17,000 crore by several group companies, including Reliance Infrastructure.
The businessman was questioned by the emergency services in August about the case.
This came after the agency searched 35 premises belonging to 50 companies and 25 people, including executives of its business group, in Mumbai on July 24.
ED’s money laundering case originates from Central Bureau of Investigation
