Anil Ambani’s Rs 3,716-crore Mumbai dwelling connected in cash laundering case
In a sweeping escalation of its cash laundering probe, the Enforcement Directorate has connected Reliance Group chairman Anil Ambani’s 17-storey Mumbai residence ‘Abode’, pegged at Rs 3,716.83 crore, in reference to an alleged financial institution fraud involving his group firm Reliance Communications.
Official sources mentioned on Wednesday {that a} provisional attachment order has been issued beneath the Prevention of Money Laundering Act PMLA towards the 66-metre-high luxurious property positioned in Mumbai’s Pali Hill space. With this motion, the overall worth of property connected within the case has risen to round Rs 15,700 crore.
Ambani, 66, is anticipated to look earlier than the company in Delhi for a second spherical of questioning. He had first deposed earlier than the ED in August 2025, when his assertion was recorded beneath the PMLA.
LINKED TO ALLEGED RCOM FRAUD
The attachment is a part of a wider investigation into alleged monetary irregularities and mortgage diversion by Reliance Communications RCOM. The ED’s motion follows two FIRs registered by the Central Bureau of Investigation which relate to allegations of dishonest, bribery and diversion of public funds by entities throughout the Reliance Anil Ambani Group, sometimes called RAAGA firms.
Search operations have been performed at over 35 premises linked to firms and executives related to the group beneath Section 17 of the PMLA. The motion spanned greater than 50 firms and concerned questioning of over 25 people in Mumbai and Delhi.
ALLEGED RS 3,000 CRORE LOAN DIVERSION
According to sources, a preliminary probe signifies that firms linked to Ambani have been concerned in a structured scheme to divert loans value round Rs 3,000 crore from Yes Bank between 2017 and 2019.
Investigators are inspecting whether or not funds have been routed by way of shell entities and round-tripped. Concerns have additionally been raised over alleged back-dated Credit Approval Memorandums, sanction of loans with out due diligence and disbursals made even earlier than formal approvals.
Officials are additionally probing a attainable quid-pro-quo association, as cash was allegedly obtained by considerations linked to promoters of Yes Bank shortly earlier than mortgage disbursements.
Multiple companies, together with the National Housing Bank, Sebi, the National Financial Reporting Authority and Bank of Baroda, shared inputs that fed into the investigation.
RELIANCE HOME FINANCE UNDER SCANNER
Reliance Home Finance Ltd RHFL has additionally come beneath scrutiny. Sebi is learnt to have flagged a pointy rise in company loans disbursed by RHFL, from Rs 3,742.60 crore in FY 2017–18 to Rs 8,670.80 crore in FY 2018–19.
The ED is inspecting whether or not this spike was linked to the broader mortgage diversion scheme, together with allegations of expedited approvals and lending to associated events.
SBI FRAUD TAG AND INSOLVENCY PROCEEDINGS
The motion follows State Bank of India declaring Reliance Communications and its promoter Anil D Ambani as ‘fraud’ beneath Reserve Bank of India pointers. SBI’s publicity contains Rs 2,227.64 crore in fund-based loans and Rs 786.52 crore in financial institution ensures. The matter has been reported to the RBI, and the financial institution is getting ready to file a grievance with the CBI.
RCOM is present process insolvency proceedings earlier than the National Company Law Tribunal. Minister of State for Finance Pankaj Chaudhary not too long ago knowledgeable Parliament that SBI has initiated private insolvency proceedings towards Ambani beneath the Insolvency and Bankruptcy Code.
GROUP COMPANIES RESPOND
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 assertion mentioned.
“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 Ambani 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.”
With the attachment of ‘Abode’, the probe into considered one of India’s most high-profile company investigations has entered a brand new section, putting each property and alleged monetary dealings beneath intense scrutiny.
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