New Delhi, March 12: The Enforcement Directorate (ED) has temporarily seized 31 immovable properties worth ₹581.65 crore linked to Reliance Home Finance Limited (RHFL) and Reliance Commercial Finance Limited (RCFL) on March 11, 2026.
The seized assets include land parcels located in Goa, Kerala, Karnataka, Punjab, Tamil Nadu, Uttar Pradesh, Haryana, Jharkhand, Maharashtra, Delhi, West Bengal, Andhra Pradesh, and Rajasthan. This action follows a search operation conducted on March 6, 2026, related to Reliance Power Limited under the Foreign Exchange Management Act (FEMA).
Previously, the ED had seized assets worth over ₹15,729 crore in connection with bank fraud cases involving RCFL, RHFL, and Reliance Communications. The total assets seized from the Anil Ambani Group have now reached ₹16,310 crore. Additionally, assets valued at ₹16,310 crore were confiscated during the search operations under the Prevention of Money Laundering Act (PMLA) and FEMA.
Under the regulations of PMLA and FEMA, fixed deposits, mutual funds, and cash amounting to ₹2.48 crore have been frozen. The ED has also seized ₹77.86 crore from 13 bank accounts of Reliance Infrastructure Limited (R-Infra) under Section 37A of FEMA. The investigation began based on multiple First Information Reports (FIRs) filed by the Central Bureau of Investigation (CBI) under various sections of the Indian Penal Code and the Prevention of Corruption Act.
The inquiry was initiated following complaints from Yes Bank, Union Bank of India, and Bank of Maharashtra against Reliance Commercial Finance Limited and Reliance Home Finance Limited. The ED’s investigation revealed that RHFL and RCFL had raised public funds from several banks and financial institutions, with over ₹11,000 crore turning into non-performing assets.
The investigation also uncovered that the public funds raised by RHFL and RCFL were diverted to various companies within the Reliance Group, including Reliance Infrastructure Limited, Reliance Power Limited, and Reliance Communications Limited.
These public funds were funneled through a large number of shell or dummy entities controlled and managed by the Reliance Anil Ambani Group, which had minimal financial strength and no legitimate business operations. The investigation has indicated the promoters and key individuals of the group acted with malintent.
The ED has traced the methods used by various entities and individuals within the group to siphon off public funds. The assets attached through the provisional attachment order dated March 11, 2026, have been linked to the value of proceeds from crime. The ED is actively pursuing financial criminals and is committed to returning the proceeds of crime to their rightful claimants. Further investigations are ongoing.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.
