ED Attaches Anil Ambani’s Pali Hill Bungalow, Assets Worth ₹3,000 Crore in Money Laundering Probe

Mumbai, Nov 3 : The Enforcement Directorate (ED) on Monday provisionally attached assets worth over ₹3,000 crore belonging to the Reliance Anil Ambani Group in connection with a money laundering investigation. Among the properties seized is the Ambani family’s iconic Pali Hill residence in Mumbai.

According to the ED, more than 40 properties spread across Delhi, Noida, Ghaziabad, Mumbai, Pune, Thane, Hyderabad, Chennai, Kancheepuram, and East Godavari have been attached. The seized assets include office spaces, residential properties, and land parcels collectively valued at ₹3,084 crore.

The money laundering case is linked to alleged financial irregularities involving Reliance Home Finance Ltd. (RHFL) and Reliance Commercial Finance Ltd. (RCFL). Investigators found that between 2017 and 2019, Yes Bank had invested nearly ₹5,000 crore in these companies, which later turned into non-performing assets, leaving outstanding dues of over ₹3,300 crore.

The ED probe revealed a complex network of fund diversion and regulatory evasion. Public funds invested through Reliance Nippon Mutual Fund were allegedly routed via Yes Bank to Ambani Group firms — a move designed to bypass SEBI’s conflict of interest rules that restrict mutual funds from directly investing in their own group entities.

Investigators also uncovered multiple procedural violations, including loans sanctioned and disbursed on the same day without due diligence. “Many loan applications were approved without mandatory field verification, with incomplete or tampered documentation,” the ED said.

The agency has further expanded its investigation into the Reliance Communications Ltd. (RCOM) loan fraud, detecting a diversion of over ₹13,600 crore. The ED said it continues to trace the proceeds of crime and emphasized that the attached assets would ultimately benefit the public exchequer once recoveries are realized.