In a major development, the Enforcement Directorate (ED) has provisionally attached assets worth approximately ₹3,084 crore belonging to entities associated with the Reliance Anil Ambani Group, as part of an ongoing investigation into alleged money laundering and diversion of public funds.

The attachment order, issued on October 31, 2025, under Section 5(1) of the Prevention of Money Laundering Act (PMLA), covers a wide range of properties including the Pali Hill residence in Bandra (West), the Reliance Centre in New Delhi, and several high-value assets spread across Mumbai, Pune, Thane, Delhi, Noida, Ghaziabad, Hyderabad, Chennai, Kancheepuram, and East Godavari. These assets comprise luxury residences, commercial offices, and prime land parcels.

According to the ED, the action stems from an investigation into the financial transactions of Reliance Home Finance Ltd (RHFL) and Reliance Commercial Finance Ltd (RCFL) — two group companies accused of misusing funds raised from the public and financial institutions.

Between 2017 and 2019, Yes Bank is reported to have invested ₹2,965 crore in RHFL and ₹2,045 crore in RCFL through various debt instruments. Both exposures later turned non-performing assets (NPAs), with outstanding dues of over ₹3,300 crore by the end of 2019.

The ED alleges that these investments were part of a larger scheme to bypass Securities and Exchange Board of India (SEBI) regulations, which prohibit direct investment by Reliance Nippon Mutual Fund into Anil Ambani Group’s financial entities due to conflict-of-interest provisions. Instead, the funds were allegedly routed indirectly through Yes Bank’s investment channels into RHFL and RCFL, effectively exposing public investors’ money to high-risk corporate entities.

Further, investigators claim to have uncovered evidence of a massive loan evergreening operation within the group, particularly linked to Reliance Communications Ltd (RCom) and its subsidiaries. The probe indicates that over ₹13,600 crore was diverted through connected parties — with approximately ₹12,600 crore allegedly funneled to related entities and ₹1,800 crore moved into fixed deposits and mutual funds, later liquidated and recycled through internal accounts.

The ED has also flagged misuse of bill discounting facilities and circular transactions between related companies to mask the real flow of funds. Sources within the agency described the alleged network as “a complex web designed to camouflage the true beneficiaries and circumvent financial regulations.”