Mumbai/New Delhi, November 3, 2025 — The Enforcement Directorate has provisionally attached properties worth ₹3,084 crore belonging to industrialist Anil Ambani. This massive crackdown spans multiple cities across India. Properties ranging from Mumbai to Kancheepuram now stand frozen under money laundering investigations. The action represents one of the biggest asset seizures in recent corporate fraud cases.
Sprawling Network of Seized Properties
More than 40 properties face provisional attachment under this investigation. The iconic Pali Hill residence in Mumbai, where Ambani resides with his family, tops the list. Additionally, authorities have attached the prestigious Reliance Centre located on Maharaja Ranjit Singh Marg in Delhi. This property spans over three acres in the heart of the national capital.
Properties across Delhi, Noida, Ghaziabad, Mumbai, Pune, Thane, Hyderabad, Chennai, Kancheepuram, and East Godavari districts have been seized. These assets include luxurious office premises, residential units, and prime land parcels. The attachment orders were issued on October 31, 2025, under Section 5(1) of the Prevention of Money Laundering Act.
“Recoveries made by ED would ultimately benefit the general public,” stated an ED spokesperson.
The sprawling Pali Hill mansion, known as “Abode,” holds an estimated value of thousands of crores. This 17-storey structure stands 70 meters tall on Nargis Dutt Road. The property features state-of-the-art amenities including a helipad, swimming pool, gymnasium, and beautifully landscaped gardens.
The Money Laundering Case Explained
Investigations center on alleged diversion and laundering of public funds. Reliance Home Finance Limited (RHFL) and Reliance Commercial Finance Limited (RCFL) raised these funds between 2017 and 2019. Yes Bank invested ₹2,965 crore in RHFL instruments during this period. Similarly, the bank invested ₹2,045 crore in RCFL instruments.
However, these investments turned non-performing by December 2019. Outstanding amounts reached ₹1,353.50 crore for RHFL. Meanwhile, RCFL owed ₹1,984 crore. Consequently, investigators suspected fund diversion through a complex network of transactions.
The ED uncovered that funds were allegedly routed to group-linked entities. Moreover, investigations revealed what authorities describe as “circular lending” practices. Loans extended by RHFL and RCFL totaled ₹12,524 crore. Out of this, ₹6,931 crore became non-performing assets.
Preliminary findings suggest a well-orchestrated scheme to siphon public money. Authorities discovered that corporate loans ultimately landed in Reliance Group company accounts. Furthermore, the investigation flagged instances of backdated credit approval memorandums. These approvals violated the bank’s credit policies.
Yes Bank Connection Under Scrutiny
Former Yes Bank CEO Rana Kapoor plays a crucial role in this investigation. During his tenure, the bank sanctioned large investments in RHFL and RCFL. Notably, these approvals came without proper board authorization. Additionally, his wife’s firms—RAB Enterprises, Bliss House, and Imagine Estate—received suspicious loans.
Investigators suspect a quid pro quo arrangement existed. Yes Bank promoters allegedly received payments before sanctioning loans. Grant Thornton’s forensic audit exposed multiple irregularities. These included fund diversion, evergreening of loans, and corporate governance failures.
SEBI investigations revealed that RHFL extended loans to borrowers with weak financials. Many borrowers possessed negative net worth and negligible profits. Inexplicably, these loans were disbursed without adequate collateral or security. Such practices raised serious red flags about the lending procedures.
The CBI filed a chargesheet against Ambani and Rana Kapoor in September 2025. This chargesheet alleges fraudulent transactions causing ₹2,796 crore loss to Yes Bank. Besides Ambani and Kapoor, several entities face charges under the Prevention of Corruption Act.
Wider Investigation Against Reliance Group
The current asset attachment forms part of a broader probe. Overall investigations involve alleged loan fraud exceeding ₹17,000 crore. Multiple Reliance Group companies, including Reliance Infrastructure, face scrutiny. The ED questioned Ambani in August 2025 regarding these allegations.
Previously, on July 24, 2025, the ED conducted massive searches. Over 35 premises linked to 50 companies were raided. Additionally, 25 individuals connected to the Reliance Group faced questioning. Authorities recovered incriminating documents and digital evidence during these operations.
State Bank of India declared Reliance Communications and Ambani as “fraud” in June 2025. This classification followed RBI’s Master Directions on Fraud Risk Management. SBI’s complaint alleged that RCOM caused losses exceeding ₹2,929 crore. Subsequently, the CBI registered a case and conducted searches at Ambani’s Cuffe Parade residence.
SEBI had earlier barred Ambani from securities markets for five years. Moreover, the regulator imposed a penalty of ₹25 crore on him. This action stemmed from alleged fund diversion from Reliance Home Finance. Additionally, 24 other entities faced similar market bans.
Ambani’s Response to Allegations
Through his spokesperson, Ambani has consistently denied all allegations. He maintains that the charges lack substance and truth. The spokesperson stated that Ambani served as a non-executive director during the relevant period. Therefore, he had no involvement in day-to-day management decisions.
“The complaint pertains to matters dating back more than 10 years. Anil Ambani has been selectively singled out,” the spokesperson emphasized.
Despite denials, the ED continues tracing proceeds of crime. The agency remains committed to securing attachments of properties. Investigations involve inputs from multiple regulatory bodies. These include the National Housing Bank, SEBI, National Financial Reporting Authority, and Bank of Baroda.
Reliance Infrastructure issued statements asserting zero impact from ED actions. The company declared it remains debt-free regarding bank and financial institution obligations. Furthermore, it reported a net worth of ₹14,883 crore as of June 2025.
Path Forward for Investigation
The ED’s provisional attachment order allows authorities to freeze assets temporarily. However, these orders require adjudication under PMLA provisions. Courts will ultimately decide whether the attachments become permanent. Meanwhile, Ambani retains the right to challenge these orders legally.
Financial institutions continue monitoring the situation closely. Banks that extended loans to Reliance Group companies assess their exposure carefully. The ED has written to 12-13 public-sector and private banks. These communications seek details about due diligence followed for loan sanctions.
Specifically, authorities requested information from SBI, Axis Bank, ICICI Bank, and HDFC Bank. UCO and Punjab and Sind Bank also received similar queries. Investigators want to understand the loan clearance process thoroughly. Additionally, they seek timelines of defaults and subsequent recovery actions.
The ongoing investigation highlights significant concerns about corporate governance. It raises questions about the oversight mechanisms within financial institutions. Furthermore, the case underscores the importance of due diligence in large loan disbursements.
As investigations progress, more revelations may emerge. The complexity of the alleged fund diversion network requires meticulous examination. Authorities continue analyzing voluminous documents and digital records. Consequently, additional actions cannot be ruled out in coming months.
For now, the attachment of ₹3,084 crore worth of properties sends a strong message. It demonstrates authorities’ determination to recover public money allegedly siphoned off. The case serves as a reminder that financial irregularities will face serious consequences regardless of corporate stature.
