ED attaches 42 properties worth INR 31 bln linked to Anil Ambani
This story was originally published at 20:53 IST on 3 November 2025
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MUMBAI – The Enforcement Directorate has attached 42 properties worth INR 30.83 billion linked to Anil Ambani in a case under the Prevention of Money Laundering Act. The law enforcement agency alleged that Anil Ambani's group companies, including Reliance Communications Ltd., Reliance Infrastructure Ltd., and Reliance Power Ltd., were involved in the fraudulent diversion of public funds.
"From around 2010-12 onwards, RCOM (Reliance Communications) and its group companies raised thousands of crores from Indian banks, of which INR 19,694 crore (INR 196.94 billion) still remains outstanding. These assets turned NPA (non-performing), with five banks having declared RCOM's loan accounts as fraud," the agency said in a press release.
The agency alleged that the group's one company took loans to pay off loans of another entity within the group. It also used loans to transfer funds to related parties and invest in mutual funds. "Huge misuse of bill discounting for the purpose of funnelling funds to connected parties has also been detected by ED. Certain loans were siphoned off outside India through foreign outward remittances," the release said.
Reliance Infrastructure, in an exchange filing Monday, said the agency's action does not impact business operations, shareholders, employees, and other stakeholders. It also said that Anil Ambani has not been on the company's board for more than three-and-a-half years. End
Reported by Anshul Choudhary
Edited by Saji George Titus
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