ED has seized another Rs 1,120 crore worth of assets from the Anil Ambani Group in the Yes Bank fraud probe, pushing total attachments close to Rs 9,000 crore. With billions allegedly diverted and investigations widening, is this the biggest financial crackdown yet?
ED investigations revealed that these funds over Rs 10,000 crore
New Delhi: In a major development in the ongoing money laundering probe linked to the Yes Bank loan fraud, the Enforcement Directorate (ED) has provisionally attached assets worth ₹1,120 crore belonging to the Reliance Anil Ambani Group.
The action, taken under the Prevention of Money Laundering Act (PMLA), further intensifies scrutiny of the conglomerate as the total attachment in the case now nears ₹9,000 crore.
The newly attached assets include properties, fixed deposits, bank balances and unquoted investments associated with Reliance Home Finance Limited (RHFL), Reliance Commercial Finance Limited (RCFL) and Yes Bank. These additions build on earlier attachments of more than ₹7,800 crore since October, signalling a deepening financial crackdown.
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According to investigative details, the attached assets comprise:
Fixed deposits belonging to Reliance Value Service Pvt Ltd, Reliance Venture Asset Management Pvt Ltd, Phi Management Solutions Pvt Ltd, Adhar Property Consultancy Pvt Ltd and Gamesa Investment Management Pvt Ltd have also been frozen. Unquoted investments held by Reliance Venture Asset Management Pvt Ltd and Phi Management Solutions Pvt Ltd remain under attachment.
The investigation stems from a CBI FIR alleging conspiracy, cheating and unlawful diversion of public funds. Between 2017 and 2019, Yes Bank invested ₹2,965 crore in RHFL and ₹2,045 crore in RCFL. Both exposures turned non-performing by December 2019, leaving over ₹3,300 crore unpaid.
ED findings reveal that more than ₹10,000 crore was routed indirectly through Yes Bank to circumvent SEBI norms preventing direct mutual fund exposure to Anil Ambani Group entities. Instead of being used for legitimate business operations, a significant portion of the funds was allegedly diverted, used for evergreening old loans, or channelled to fellow group companies.
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The latest attachment covers multiple residential, commercial and land properties spread across major Indian cities such as Mumbai, Delhi, Pune and Chennai. Neither Anil Ambani nor the group has issued a formal response so far.
The development also comes after the Supreme Court recently issued a notice seeking a court-monitored probe into alleged RCOM bank frauds. With ED identifying over ₹12,600 crore linked to related entities and ₹1,800 crore allegedly liquidated for group benefit, further action is expected as investigations continue.
The spotlight on the Anil Ambani Group grows sharper, and the coming months may determine the trajectory of one of India’s most high-profile financial probes.
