ED Freezes ₹30.84 Billion in Reliance Anil Ambani Group Assets Over Money-Laundering Probe
India’s Enforcement Directorate (ED) has provisionally frozen assets worth ₹30.84 billion ($350.87 million) belonging to the Reliance Anil Ambani Group as part of an ongoing money-laundering investigation, according to a government source. The case pertains to loans exceeding $568 million obtained from YES Bank between 2017 and 2019, which reportedly yielded no returns. The blocked assets include residential properties and land parcels in Mumbai, Delhi, and Chennai, including industrialist Anil Ambani’s family residence.
Investigators allege that funds raised by Reliance Home Finance Ltd and Reliance Commercial Finance Ltd were diverted through a “well-planned” scheme involving shell companies. The loans, initially invested via mutual funds, were allegedly rerouted to entities linked to the group, violating financial regulations. Sources also claim that bribes were paid to YES Bank officials before the loans were sanctioned.
The ED has cited weak borrower profiles, missing documentation, and misuse of funds as key concerns in the case, which involves large-scale diversion and laundering of public money. The agency is also investigating Reliance Communications Ltd and its affiliates for allegedly diverting over ₹136 billion ($1.55 billion) through loan evergreening and fund rerouting practices. Reliance Group has yet to issue an official response regarding the allegations.
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