ED Attaches ₹1,120 Crore in New Assets Linked to Anil Ambani Firms under PMLA

As per Business Standard report, The Enforcement Directorate (ED) has intensified its investigation into the financial dealings of Anil Ambani's companies by attaching fresh assets valued at ₹1,120 crore.  

This action is part of an ongoing probe under the Prevention of Money Laundering Act (PMLA). 

Details of the Asset Attachment 

The ED's recent action involves the provisional attachment of 18 properties, including the prominent Reliance Centre located in Mumbai's Ballard Estate.  

Additionally, fixed deposits, bank balances, and shareholdings in unquoted investments of the Reliance Anil Ambani Group have been secured. This move marks a significant step in the agency's efforts to address alleged financial irregularities. 

Additional Properties and Investments 

Beyond the initial 18 properties, the ED has also attached 7 properties belonging to Reliance Infrastructure Ltd, 2 properties of Reliance Power Ltd, and 9 properties of Reliance Value Service Private Ltd.  

Furthermore, fixed deposits and investments in unquoted assets by entities such as Reliance Venture Asset Management Private Ltd and Phi Management Solutions Private Ltd have been included in the attachment. 

Previous Attachments in the Case 

Prior to this latest development, the ED had already attached properties worth over ₹8,997 crore in connection with bank fraud cases involving Reliance Communications Ltd (RCOM), Reliance Commercial Finance Ltd, and Reliance Home Finance Ltd.  

With the addition of the recent ₹1,120 crore attachment, the total value of assets attached in this case now stands at ₹10,117 crore. 

Read More: WeWork India IPO: Bombay HC Dismisses Petitions Against SEBI's Approval! 

Conclusion 

The ED's attachment of ₹1,120 crore in assets linked to Anil Ambani's firms highlights the ongoing scrutiny of financial practices within the Reliance Group. This move, combined with previous attachments, reflects the agency's commitment to addressing alleged financial misconduct. 

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