ED Attaches Reliance Infra Assets Under PMLA
The Enforcement Directorate has provisionally attached assets of Reliance Infrastructure Limited under the Prevention of Money Laundering Act, though the company maintains the action has “no impact” on its business operations or stakeholders.
Key Takeaways
- ED attaches Reliance Infra assets under PMLA probe
- Company says no operational impact, Anil Ambani not on board for 3.5+ years
- Total attachments in Reliance Group cases now exceed ₹7,500 crore
- Probe involves alleged diversion of ₹40,000+ crore loans
Company’s Official Statement
Reliance Infrastructure stated: “We wish to inform that certain assets of the company have been provisionally attached by the ED for the alleged violations under PMLA. There is no impact on the business operations, shareholders, employees or any other stakeholders of Reliance Infrastructure Limited.”
The company emphasized that “Mr Anil D Ambani is not on the Board of Reliance Infrastructure Limited for more than 3.5 years.”
Details of the Latest Attachment
The ED attached over 132 acres of land at Dhirubhai Ambani Knowledge City in Navi Mumbai, valued at ₹4,462.81 crore. This action is part of the ongoing investigation into bank fraud cases involving Reliance Communications Ltd, Reliance Commercial Finance Ltd and Reliance Home Finance Ltd.
With this latest attachment, the total value of assets attached in cases linked to the Anil Ambani-led Reliance Group now exceeds ₹7,500 crore.
Background of the Investigation
The ED’s investigation, based on a CBI FIR against RCOM, Anil Ambani, and others, revealed that group companies secured loans exceeding ₹40,000 crore from domestic and foreign lenders between 2010 and 2012.
A portion of these funds was allegedly diverted for loan evergreening, related-party transactions, and foreign remittances.
The agency continues to pursue recovery of proceeds of crime and ensure restitution to rightful claimants.
