Enforcement Directorate Attaches Assets of Reliance Group Companies

The Enforcement Directorate attached assets worth over Rs 581 crore belonging to Reliance Group companies RHFL and RCFL under the PMLA. This is part of a probe related to alleged fund diversion raising cumulative attachments to Rs 16,310 crore. The funds were allegedly misused under shell companies.

The Enforcement Directorate (ED) announced on Thursday that it has attached new assets worth over Rs 581 crore in connection to its ongoing probe against companies belonging to Anil Ambani's Reliance Group. The assets, spanning several states, were seized under the Prevention of Money Laundering Act (PMLA).

The provisional attachment order, issued on March 11, targets properties related to Reliance Home Finance Limited (RHFL) and Reliance Commercial Finance Limited (RCFL). These steps followed search operations on March 6 in a separate case against Reliance Power Limited under the Foreign Exchange Management Act (FEMA).

The investigation, which originated from a CBI FIR, accused the companies of diverting public funds raised through loans into shell entities with no genuine business operations. The cumulative asset seizures of Anil Ambani's group have now totaled Rs 16,310 crore, according to the ED.