Suryaa Business Desk: The Enforcement Directorate (ED) has issued orders for the provisional attachment of assets worth Rs 510 crore belonging to the Anil Ambani-led Reliance Group under the Prevention of Money Laundering Act (PMLA). With this latest action, the total value of assets attached by the agency in various cases registered against the Reliance ADA Group has reached approximately Rs 23,100 crore.
The agency stated that this attachment is part of an investigation into financial irregularities and banking frauds involving Reliance Communications (RCom), Reliance Home Finance (RHFL), and Reliance Commercial Finance (RCFL). Regarding the RCom case, two chartered aircraft, six land parcels in Maharashtra, and one office building have been attached. Additionally, in connection with the RHFL and RCFL cases, the ED has seized two windmills in Tamil Nadu, bank balances, fixed deposits, and investments.
The ED alleged that public funds collected from banks and financial institutions were diverted to offshore tax havens. It further alleged that the promoters and their family members misused the Insolvency and Bankruptcy Code (IBC) to utilize funds for personal gain. Officials stated that 10 individuals have been arrested in connection with these matters, with six prosecution complaints filed under PMLA and one complaint filed under FEMA.