ED Seizes ₹1,400 Crore in Ambani-Linked Properties, Total Attachments Near ₹9,000 Crore
The Enforcement Directorate (ED) has intensified its crackdown on companies linked to the Anil Dhirubhai Ambani Group (ADAG), seizing immovable properties worth ₹1,400 crore in a fresh provisional attachment order. This latest action brings the total value of assets attached by the agency in this case to nearly ₹9,000 crore.
Key Developments
- ED attaches properties worth ₹1,400 crore linked to ADAG companies.
- Total attached assets in the case now approach ₹9,000 crore.
- Anil Ambani skips ED summons for second time in FEMA probe.
- Investigation involves alleged diversion of ₹40 crore from highway project via shell companies.
Ambani Skips ED Summons
The new attachment comes as ED scrutiny of the ADAG group intensifies. On November 17, Reliance ADAG Chairman Anil Ambani skipped the agency’s summons for the second time in a FEMA investigation concerning the Jaipur-Reengus highway project. He had previously missed questioning after the ED rejected his request for a virtual appearance.
Ambani again sought permission for virtual participation on Monday, but the agency insisted on physical appearance. According to investigators, the FEMA probe began following allegations that approximately ₹40 crore from the 2010 highway project awarded to Reliance Infra was diverted abroad through Surat-based shell companies and routed to Dubai.
The ED believes this money trail connects to a wider hawala network estimated at over ₹600 crore. A Reliance Group spokesperson stated that Anil Ambani is willing to cooperate and ready to record his statement “at any date and time suitable to the ED” through virtual or recorded video appearance.
Previous Encounters with ED
This isn’t the first time Ambani has faced ED scrutiny. In August, he was questioned for nearly nine hours at the ED headquarters regarding an alleged ₹17,000-crore bank loan fraud case.
Recent Asset Attachments
The ED’s action against ADAG companies has expanded significantly in recent months:
- Last week, the agency attached over 132 acres of land worth ₹4,462.81 crore at Dhirubhai Ambani Knowledge City in Navi Mumbai under PMLA.
- Earlier, it had attached 42 properties valued at over ₹3,083 crore linked to bank fraud investigations involving Reliance Communications, Reliance Commercial Finance, and Reliance Home Finance.
The investigation continues as the ED pursues the money trail across multiple financial channels.
