ED Freezes ₹7,500 Crore Assets Linked to Anil Ambani Group in Money-Laundering Probe

India’s Enforcement Directorate (ED) has frozen assets worth ₹7,500 crore ($853 million) belonging to companies under the Reliance Anil Ambani Group, as part of an ongoing money-laundering investigation.

The action is linked to alleged fund diversion cases involving Reliance Communications Ltd and its affiliates, which reportedly diverted over ₹13,600 crore obtained through loans of more than $569 million from YES Bank between 2017 and 2019.

According to the ED, group entities including Reliance Home Finance Ltd and Reliance Commercial Finance Ltd engaged in “fraudulent diversion of public money” through loan evergreening and shell companies. The agency has also blocked transactions on residential and commercial properties across Mumbai, Delhi, and Chennai, including Anil Ambani’s family residence in Mumbai.

The ED alleged that loans were used to repay debts of related companies, transferred to connected entities, and invested in mutual funds, violating loan terms.

Reliance Infrastructure clarified that the ED’s move will not impact its operations, employees, or shareholders. Other group firms and YES Bank declined to comment.