The Enforcement Directorate (ED) has attached over 132 acres of land worth ₹4,462.81 crore at Dhirubhai Ambani Knowledge City, Navi Mumbai, under PMLA. The action is linked to bank fraud cases involving Reliance Communications and Anil Ambani-led companies.
ED Takes Major Action Against DAKC in Navi Mumbai
New Delhi: The Enforcement Directorate (ED)'s special task force has taken major action in Navi Mumbai, Maharashtra, provisionally attaching over 132 acres of land at Dhirubhai Ambani Knowledge City (DAKC). The total value of this land is estimated at approximately ₹4,462.81 crore.
This action was taken under the Prevention of Money Laundering Act (PMLA), 2002.
This is not the first time the ED has seized assets belonging to the Reliance Group. Earlier, the agency had attached assets worth approximately ₹3,083 crore linked to Reliance Communications Limited (RCom), Reliance Commercial Finance Limited, and Reliance Home Finance Limited. The total value of assets seized by the ED so far has exceeded ₹7,500 crore.
Delhi police arrest over 35,000 individuals; seize drugs, cash, and arms during MCC enforcement
The ED's action is based on an FIR filed by the Central Bureau of Investigation (CBI), registered under sections 120-B (criminal conspiracy), 406 (criminal breach of trust), and 420 (cheating) of the Indian Penal Code, along with sections of the Prevention of Corruption Act, 1989. The FIR names Anil Ambani and his group of companies.
According to the ED, Reliance Communications and its group companies had taken massive loans from domestic and foreign banks between 2010 and 2012. Currently, these companies have outstanding loans of approximately ₹40,185 crore.
Five banks have declared these accounts as "fraudulent," following which the agencies initiated stringent action. Pali Hill and Reliance Centre also attached.
The orders issued by the ED include a residence in Pali Hill, Mumbai, the Reliance Centre in New Delhi, and properties located in several major cities across the country: Delhi, Noida, Ghaziabad, Mumbai, Pune, Thane, Hyderabad, Chennai, and East Godavari.
These properties include offices, residential units, and land plots. In total, the agency has issued four orders, with an estimated value of ₹3,084 crore.
According to ED officials, the investigation is still ongoing. The agency is also examining other financial activities related to the Reliance Group to determine how and where the loan amount was used.
