The Enforcement Directorate (ED) has provisionally attached more than 132 acres of land located in Dhirubhai Ambani Knowledge City (DAKC), Navi Mumbai, valued at approximately ₹4,463 crore, under the Prevention of Money Laundering Act (PMLA).
With this attachment, the total assets seized in cases involving Reliance Communications Ltd (RCom), Reliance Commercial Finance Ltd, and Reliance Home Finance Ltd have exceeded ₹7,500 crore, the agency announced on Monday.
According to the ED, the investigation was initiated based on a Central Bureau of Investigation (CBI) FIR registered under various sections of the Indian Penal Code (IPC) and the Prevention of Corruption Act. Earlier, the ED had attached 42 properties belonging to the same group in connection with the case.
The agency alleged that RCom and its group companies availed loans worth ₹40,185 crore from domestic and foreign lenders between 2010 and 2012, a portion of which remains outstanding. Five banks have classified these loan accounts as fraudulent, according to the ED.
In a filing to the stock exchanges, Reliance Infrastructure Ltd confirmed the attachment, stating:
“We wish to inform that certain assets of the company have been provisionally attached by ED for alleged violations under PMLA. There is no impact on the business operations, shareholders, employees, or other stakeholders of Reliance Infrastructure Ltd. Anil D. Ambani is not on the Board of the company for more than 3.5 years.”
A person familiar with the matter said that Reliance Centre–Delhi (RCD) and Dhirubhai Ambani Knowledge City (DAKC) are assets of RCom. The company has been under corporate insolvency resolution for over six years, with matters pending before the NCLT and the Supreme Court of India. Anil Ambani resigned as Non-Executive Director of RCom in 2019.
Citing the ongoing probe, the ED alleged that loans sanctioned to one entity were used to repay loans of other group entities, fund related parties, and invest in mutual funds, violating loan terms. The agency further claimed that ₹13,600 crore was diverted for loan evergreening, ₹12,600 crore routed to connected parties, and ₹1,800 crore invested in FDs and mutual funds, later liquidated and rerouted to group entities.
The agency also uncovered the misuse of bill discounting and foreign remittances to siphon off funds abroad.
With this latest attachment, the total seized assets in the Reliance Group-related cases stand at around ₹7,545 crore.
“ED is actively pursuing perpetrators of financial crime and is committed to restituting proceeds of crime to rightful claimants. Further investigation is underway,” the agency stated.
Keywords: ED, Reliance Communications, Anil Ambani, Dhirubhai Ambani Knowledge City, RCom case, PMLA, Money Laundering, ED Attachment, Reliance Group, Navi Mumbai, ED News
