ED attaches Rs 1,021 crore assets in Reliance Anil Ambani Group case

The Enforcement Directorate has attached assets worth Rs 1,021 crore in its money laundering investigation against the Reliance Anil Ambani Group. With the latest order, the total value of attached properties has reached Rs 20,367 crore, while multiple investigations remain underway

New Delhi: The Enforcement Directorate (ED) on Saturday said it has issued a fresh order attaching assets worth Rs 1,021 crore as part of a money laundering investigation against the Reliance Anil Ambani Group.

The provisional order, issued under the Prevention of Money Laundering Act (PMLA), attaches equity shares of Reliance Power held by Reliance Infrastructure and certain loan amounts receivable from Sasan Power and Reliance Power, the agency said in a statement.

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The investigation stems from a CBI FIR against Reliance Home Finance Limited (RHFL) and Reliance Commercial Finance Limited (RCFL).

According to the ED, the probe found that public funds worth Rs 15,548 crore raised by RHFL and RCFL were “systematically diverted” through a web of “shell” (dummy) and group companies controlled and managed by the Reliance Anil Ambani Group.

The ED is investigating multiple cases against the Group in connection with four FIRs registered under the Prevention of Money Laundering Act, and three cases under the provisions of the Foreign Exchange Management Act (FEMA).

With the latest order, the total value of properties attached in this case has reached Rs 20,367 crore. The ED has filed four chargesheets and arrested eight persons so far.

Additionally, properties worth Rs 77.86 crore have been attached under the FEMA, according to the ED.