The ED has alleged fraudulent misuse of public money by various Reliance Anil Ambani group companies, including RCom, Reliance Home Finance Limited (RHFL), Reliance Commercial Finance Limited (RCFL), Reliance Infrastructure and Reliance Power Limited. File. | Photo credit: ANI
The Enforcement Directorate on Wednesday (Jan 28, 2026) said it has provisionally attached properties worth ₹1,885 crore linked to Anil Ambani’s Reliance group, including bank balance, receivables, stake in “open investments” and immovable property.
The agency had earlier frozen properties worth over ₹10,117 crore in reference to cases of alleged bank fraud involving Reliance Communications Limited (RCom), Reliance Commercial Finance Limited and Reliance Home Finance Limited. The cumulative value of total attachments in related cases now stands at around ₹12,000 crore.
Fresh attachments through four separate orders were made in cases allegedly involving Reliance Home Finance Limited, Reliance Commercial Finance Limited and Yes Bank; and Reliance Communication Limited.
“The attached properties are in the form of Reliance Infrastructure Limited’s stake in BSES Yamuna Power Limited, BSES Rajdhani Power Limited and Mumbai Metro One Private Limited. Another ₹ 148 crore in bank balances and receivables worth ₹ 143 crore have been provisionally attached in the name of Value Corp and Finance Angi Limited to the house of Securities Angi Sethuraman and movable property in the form of shares/mutual funds in the name of Puneet Garg, both senior employees of Reliance Group, were temporarily besieged,” the agency said.
Alleged fraudulent redirection
Based on these findings, the ED has accused various Reliance Anil Ambani group companies of fraudulent misappropriation of public money, including RCom, Reliance Home Finance Limited (RHFL), Reliance Commercial Finance Limited (RCFL), Reliance Infrastructure and Reliance Power Limited.
As reported, during 2017-19, Yes Bank invested ₹2,965 crore in RHFL instruments and ₹2,045 crore in RCFL instruments. “By December 2019, these investments became non-performing investments. The outstanding amount was ₹ 1,353.50 crore for RHFL and ₹ 1,984 crore for RCFL… RHFL and RCFL received public funds of more than ₹ 11,000 crore. Before Yes Bank invested this money from Aniltan Reliance Group Reliance Nippon Mutual Fund,” he said.
According to ED, Reliance Nippon Mutual Fund could not invest/divert funds directly to Anil Ambani group financial companies due to conflict of interest rules as per Securities and Exchange Board of India regulations. “Therefore, public money in mutual fund schemes was channeled indirectly by them. The route was through Yes Bank exposures. Public funds reached Anil Ambani group companies through a circuitous route,” the agency alleged.
The ED said that from 2010 to 2012, RCom and its group companies took loans from domestic and foreign lenders, of which about ₹40,185 crore is said to be outstanding. Nine banks flagged the Group’s credit accounts as fraudulent. Alleging various irregularities, it said RCom and its group companies diverted over ₹13,600 crore to “evergreening” loans and over ₹12,600 crore to related parties, while over ₹1,800 crore was invested in fixed deposits, mutual funds etc.
Published – 28 Jan 2026 21:05 IST
