The Enforcement Directorate (ED) has provisionally attached 31 immovable properties valued at Rs 581.65 crore belonging to Reliance Home Finance Limited (RHFL) and Reliance Commercial Finance Limited (RCFL), escalating its crackdown on alleged financial irregularities within the Anil Ambani-led Reliance Group.
“The attached assets, primarily land parcels, are spread across 13 states including Goa, Kerala, Karnataka, Punjab, , Uttar Pradesh, Haryana, Jharkhand, Maharashtra, , West Bengal, Andhra Pradesh, and Rajasthan. This latest move follows search operations on March 6 under the Foreign Exchange Management Act (FEMA) linked to Reliance Power Limited (R-Power),” a ED spokesperson said in a statement.
According to the agency, this is the latest in a series of ED actions against the group. Earlier attachments in RHFL/RCFL and RCOM bank fraud cases totalled over Rs 15,729 crore, pushing cumulative seizures to Rs 16,310 crore. During recent PMLA and FEMA searches, ED froze Rs 2.48 crore in fixed deposits, mutual funds, and cash. It also seized Rs 77.86 crore from 13 bank accounts of R-Infra under FEMA’s Section 37A.
“ED’s probe, initiated on July 22, 2025, stems from CBI FIRs against RHFL and RCFL, filed on complaints from Yes Bank, Union Bank of India, and Bank of Maharashtra. The FIRs invoke sections of the Indian Penal Code for criminal conspiracy and cheating, alongside the Prevention of Corruption Act,” the spokesperson said.
“Probe has revealed that RHFL and RCFL raised over Rs 11,000 crore from banks and financial institutions, much of which turned into non-performing assets (NPAs). These public funds were allegedly diverted to other group entities like Reliance Infrastructure (R-Infra), Reliance Power, Reliance Communications (RCOM), and Reliance Capital through a web of shell and dummy companies with no real business operations or financial strength,” the spokesperson alleged.
A query was sent to the spokesperson, and their response is awaited.
“ED has unearthed the modus operandi for siphoning off public funds,” an official statement said, pointing to “mala fide intent” by group promoters and key persons. The attached properties represent proceeds of crime under the Prevention of Money Laundering Act (PMLA),” the spokesperson said.
