ED Knocks On Anil Ambani’s Door, ₹3,000 Crore Assets Seized, Bad Luck Follows The ‘Other Ambani’
Anil Ambani just can’t seem to catch a break. Once touted as one of India’s richest men, the Elder Ambani now finds himself in the headlines for all the wrong reasons.
In yet another blow, the Enforcement Directorate (ED) has swooped in and attached assets worth more than massive ₹3,000 crore linked to the Reliance Group Chairman.
This action is due to part of a money laundering probe against his group companies, even extends to his plush Pali Hill bungalow in Mumbai, proving that this time, trouble has quite literally entered his home.
Adding to the fued. the federal agency has issued four provisional attachment orders under the Prevention of Money Laundering Act (PMLA), covering residential and commercial properties across multiple Reliance entities.
For a man who once ruled the business world, Anil Ambani’s fall from grace has been steep, from declaring bankruptcy to now facing fresh probes. The headlines, it seems, just won’t leave him alone.
Anil Ambani’s Properties Across Multiple Cities Attached
- A plot of land belonging to Reliance Centre on Maharaja Ranjit Singh Marg in Delhi has been attached.
- Multiple other assets across Noida, Ghaziabad, Mumbai, Pune, Thane, Hyderabad, Chennai, and East Godavari have also been seized.
- The total value of the attached assets stands at ₹3,084 crore, according to official sources.
Case Linked To Reliance Home Finance And Commercial Finance
The alleged money laundering scandal of Reliance Group of Anil Ambani dates back to the case of diversion of funds by Reliance Home Finance Ltd. (RHFL) and Reliance Commercial Finance Ltd. (RCFL). Yes Bank spent almost ₹5,000 crore in the two companies between 2017 and 2019, ₹2,965 crore in RHFL and ₹2,045 crore in RCFL. However, these investments became non-performing towards the end of 2019, and more than ₹3,300 crore is yet to be paid.
The Enforcement Directorate (ED) accuses that the money was diverted and laundered via shell companies, further complicating the predicament of the debt-laden group and bringing an even tighter band around the neck of an already troubled empire of Anil Ambani.
₹17,000 Crore Web Of Woes: ED Tightens Noose Around Anil Ambani’s Empire
The story on the Anil Ambani-debted empire has only increased. It has even led to the Enforcement Directorate (ED) investigating the so-called financial anomalies and loan transfers worth an inconceivable ₹17,000 crore, a figure that even billionaires would shudder.
The case that involves several Reliance Group firms such as Reliance Infrastructure is another addition to the long history of financial trouble that Ambani has had.
The businessman was grilled by the ED in August, it is said, shortly after sleuths had raided 35 locales associated with more than 50 corporations and 25 men in Mumbai. What was behind this high-voltage money trail?
A Central Bureau of Investigation (CBI) FIR, the fuse that exploded in the already unstable empire of Ambani.
(With Inputs)
Aishwarya is a journalism graduate with over three years of experience thriving in the buzzing corporate media world. She’s got a knack for decoding business news, tracking the twists and turns of the stock market, covering the masala of the entertainment world, and sometimes her stories come with just the right sprinkle of political commentary. She has worked with several organizations, interned at ZEE and gained professional skills at TV9 and News24, And now is learning and writing at NewsX, she’s no stranger to the newsroom hustle. Her storytelling style is fast-paced, creative, and perfectly tailored to connect with both the platform and its audience. Moto: Approaching every story from the reader’s point of view, backing up her insights with solid facts.
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