ED attaches ₹510-crore assets, including two chartered planes, in Reliance Anil Ambani Group cases
The agency said the attachment covers aircraft, land and financial assets tied to alleged bank frauds worth Rs 510.17 crore.
- On Tuesday, The Enforcement Directorate attached assets worth Rs 510 crore linked to the Reliance Anil Ambani Group in connection with alleged bank fraud cases involving multiple group companies.
- The agency alleged the Group siphoned public funds from financial institutions and misused the Insolvency and Bankruptcy Code to ring-fence corporate assets for personal benefit, diverting funds to offshore tax havens.
- Attached assets include two chartered aircraft, six land parcels, and office premises in Maharashtra, plus two windmills in Tamil Nadu. The probe covers alleged frauds of Rs 263.05 crore at Reliance Home Finance Limited and Reliance Commercial Finance Limited, plus Rs 247.12 crore at Reliance Communication Limited.
- With this order, cumulative assets seized by the ED across multiple cases reached Rs 23,100 crore. The agency has arrested 10 individuals and filed 6 prosecution complaints under the Prevention of Money Laundering Act.
- Investigations are based on FIRs from the Central Bureau of Investigation and the Economic Offences Wing. The agency has also initiated a separate probe under the Foreign Exchange Management Act regarding the group's financial activities.
15 Articles
15 Articles
ED attaches assets worth Rs 510 crore of Reliance Anil Ambani Group
The Enforcement Directorate (ED) on Tuesday said it has attached Rs 510.17 crore worth of properties of Reliance Anil Ambani Group in connection with its ongoing alleged bank fraud cases involving its group companies.
'2 Planes, 6 Plots': Probe Agency's Rs 510-Crore Action On Anil Ambani Group
Listing the seized assets, the agency said in a statement that it has attached 2 chartered aircraft, 6 land parcels, and one office premises in Maharashtra. In the RCFL/ RHFL case, it has seized two windmills in Tamil Nadu and bank deposits.
ED Seizes Rs 510 Crore Assets From Anil Ambani Group In Fraud Probe
The Enforcement Directorate has provisionally attached assets worth Rs 510 crore belonging to the Reliance Anil Ambani Group (RAAG) in connection with alleged bank fraud and money laundering cases involving Reliance Home Finance Limited, Reliance Commercial Finance Ltd., and Reliance Communication Ltd. The attached assets include aircraft, land parcels, windmills, and financial instruments.
2 aircraft, windmills, land parcels: ED attaches Rs 23,000-cr assets in Anil Ambani group cases
The companies under investigation include Reliance Communication Ltd, Reliance Home Finance Ltd, Reliance Commercial Finance Ltd, Reliance Infrastructure Ltd, Reliance Power Ltd and Reliance Capital Ltd.
Enforcement Directorate attaches assets worth over Rs 510 crore of Anil Ambani group companies in bank fraud and PMLA cases.
Coverage Details
Bias Distribution
- 60% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
