- Enforcement Directorate attached Rs 581 crore assets of RHFL and RCFL on March 11
- Properties are located across 13 states including Goa, Kerala, Maharashtra, and Delhi
- Attachment follows March 6 searches related to Reliance Power under FEMA case
The Directorate of Enforcement in an attachent order issued on Thursday said that it has provisionally attached 31 immovable properties worth Rs 581.65 crore in connection with the investigation into Anil Ambani's Reliance Home Finance Ltd. (RHFL) and Reliance Commercial Finance Ltd. (RCFL).
The action came after raids were conducted in a separate case related to Reliance Power Ltd. under the provisions of the Foreign Exchange Management Act (FEMA) on March 6.
The attached properties mainly consist of land parcels located across several states including Goa, Kerala, Karnataka, Punjab, Tamil Nadu, Uttar Pradesh, Haryana, Jharkhand, Maharashtra, Delhi, West Bengal, Andhra Pradesh and Rajasthan, as per the agency.
The ED said that it had earlier attached properties worth over Rs 15,729 crore in bank fraud cases linked to RCFL, RHFL and Reliance Communications. The cumulative attachment in cases related to the Reliance Anil Ambani Group has totalled up to Rs 16,310 crore after the latest action.
During searches conducted under the Prevention of Money Laundering Act (PMLA) and FEMA, assets worth Rs 2.48 crore in the form of fixed deposits, mutual funds and cash were frozen or confiscated. The ED has also seized balances amounting to Rs 77.86 crore in 13 bank accounts of Reliance Infrastructure Limited under Section 37A of FEMA.
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RHFL and RCFL had raised public funds from several banks and financial institutions, of which more than Rs 11,000 crore eventually turned into non-performing assets, according to the ED.
ED's probe into the Anil Ambani led Reliance group began in July 2025 on the basis of multiple FIRs registered by the Central Bureau of Investigation under criminal conspiracy and cheating provisions of the Indian Penal Code and the Prevention of Corruption Act. The FIRs were filed following complaints from Yes Bank, Union Bank of India and Bank of Maharashtra.
The probe has alleged that the funds were diverted to several companies of the group, including Reliance Infrastructure, Reliance Power, Reliance Communications and Reliance Capital Ltd., through multiple shell or dummy entities allegedly controlled by the group. Investigators claim these entities had negligible financial capacity and no significant business operations.
The agency underlined that the attached properties represent the value of the alleged proceeds of crime. Further investigation in the case is underway.
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