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Agartala, Tripura
Mumbai/IBNS: The Enforcement Directorate (ED) has intensified its money laundering investigation by attaching Reliance Group chairman Anil Ambani’s 17-storey Mumbai residence, ‘Abode’, valued at ₹3,716.83 crore.
The attachment links the luxury property to an alleged bank fraud involving the group firm Reliance Communications.
Official sources said on Wednesday that the agency issued a provisional attachment order under the Prevention of Money Laundering Act against the 66-metre-high property located in Mumbai’s upscale Pali Hill locality.
With this move, the cumulative value of assets attached in the case has climbed to nearly ₹15,700 crore.
Investigators expect the 66-year-old industrialist to appear before the agency in Delhi for a second round of questioning.
Ambani had earlier deposed before the ED in August 2025, when officials recorded his statement under the PMLA as part of the ongoing probe.
The attachment forms part of a broader investigation into alleged financial misconduct and diversion of loans by Reliance Communications.
The ED’s action follows two FIRs registered by the Central Bureau of Investigation, citing accusations of cheating, bribery and misuse of public funds by entities linked to the Reliance Anil Ambani Group.
As part of the investigation, the agency carried out searches at more than 35 locations connected to group companies and executives under Section 17 of the PMLA.
The exercise covered over 50 firms and involved questioning more than 25 individuals across Mumbai and Delhi.
According to officials familiar with the inquiry, preliminary findings suggest that companies associated with Ambani may have diverted loans worth around ₹3,000 crore from Yes Bank between 2017 and 2019.
Investigators are examining whether the funds moved through shell companies and were round-tripped.
They are also scrutinising allegations of back-dated credit approval memorandums, loans sanctioned without adequate due diligence and disbursements allegedly made even before formal approvals.
The probe is further assessing claims of a possible quid pro quo, as entities linked to Yes Bank promoters reportedly received funds shortly before loan releases.
Inputs from multiple regulators, including the National Housing Bank, Securities and Exchange Board of India, the National Financial Reporting Authority and Bank of Baroda, have fed into the investigation.
Reliance Home Finance Ltd has also come under scrutiny as part of the wider probe.
Sebi is learnt to have flagged a sharp jump in corporate loans disbursed by the company, which rose from ₹3,742.60 crore in FY 2017–18 to ₹8,670.80 crore in FY 2018–19.
The ED is examining whether this surge is linked to the alleged loan diversion scheme, along with accusations of expedited approvals and lending to related parties.
The latest action follows the State Bank of India classifying Reliance Communications and its promoter, Anil D Ambani, as ‘fraud’ under Reserve Bank of India guidelines.
SBI’s exposure reportedly includes ₹2,227.64 crore in fund-based loans and ₹786.52 crore in bank guarantees.
The bank has informed the RBI and is preparing to file a complaint with the CBI.
RCOM is currently undergoing insolvency proceedings before the National Company Law Tribunal. Minister of State for Finance Pankaj Chaudhary recently told Parliament that SBI has initiated personal insolvency proceedings against Ambani under the Insolvency and Bankruptcy Code.
Amid the developments, Reliance Power and Reliance Infrastructure issued a clarification distancing themselves from the investigation.
“It is clarified that Reliance Power and Reliance Infrastructure are a separate and independent listed entity with no business or financial linkage to RCOM or RHFL. RCOM is undergoing Corporate Insolvency Resolution Process as per the Insolvency and Bankruptcy Code, 2016 since over 6 years,” the statement said.
“RHFL has been fully resolved pursuant to the judgment of the Hon’ble Supreme Court of India. Similar allegations as those set out in the media reports are sub-judice and pending before the Hon’ble Securities Appellate Tribunal, as per publicly available information,” it added.
“Further, Mr Anil D Amban//i is not on the Board of Reliance Power and Reliance Infrastructure. Accordingly, any action taken against RCOM or RHFL has no bearing or impact on the governance, management, or operations of Reliance Power and Reliance Infrastructure,” the statement read.
