ED Attaches ₹1,021 Crore Assets in Reliance Group Money Laundering Probe
The Enforcement Directorate (ED) has attached additional properties worth ₹1,021 crore in a money laundering case involving Reliance Home Finance Limited (RHFL) and Reliance Commercial Finance Limited (RCFL), both part of the Anil Ambani-led Reliance Group.
With this action, the total assets attached in the case under the Prevention of Money Laundering Act (PMLA) have reached ₹20,367 crore, the agency said on Saturday. Additionally, assets worth ₹77.86 crore have been attached under the Foreign Exchange Management Act (FEMA).
The ED's investigation stems from multiple First Information Reports (FIRs) registered by the Central Bureau of Investigation (CBI) following complaints from various public and private sector banks. The agency alleges that public funds totalling ₹15,548 crore raised by RHFL and RCFL were systematically diverted through a network of shell and group companies controlled by the Reliance Anil Ambani Group.
The newly attached assets include equity shares of Reliance Power Limited held by Reliance Infrastructure Limited, as well as loan amounts receivable from Sasan Power Limited and Reliance Power Limited.
The ED is currently investigating four cases under the PMLA and three under FEMA, having conducted searches at over 80 premises. It has filed four prosecution complaints and one complaint under FEMA, and has arrested eight senior officers or close associates of the Reliance Group.
The attachments are provisional and subject to confirmation by the Adjudicating Authority under PMLA. The accused have the right to challenge the action in court. The investigation is ongoing.
