New Delhi, March 13: 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 states such as 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 exceeding ₹15,729 crore in connection with bank fraud cases involving RCFL, RHFL, and Reliance Communications (RCom). The total value of assets seized from the Reliance Anil Ambani Group has now reached ₹16,310 crore. Additionally, assets worth ₹16,310 crore were confiscated during the search operations under the Prevention of Money Laundering Act (PMLA) and FEMA.
Under the PMLA/FEMA regulations, fixed deposits, mutual funds, and cash amounting to ₹2.48 crore have been frozen. The ED also seized ₹77.86 crore from 13 bank accounts of Reliance Infrastructure Limited (R-Infra) under Section 37A of FEMA. The investigation was initiated based on multiple FIRs filed by the Central Bureau of Investigation (CBI) under various sections of the Indian Penal Code, 1860, and the Prevention of Corruption Act, 1988.
This investigation was prompted by 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 inquiry 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 further 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, Reliance Communications Limited, and Reliance Capital Limited.
These public funds were funneled through a significant number of shell or dummy entities controlled and managed by the Reliance Anil Ambani Group. These entities had minimal financial strength and no legitimate business operations. The investigation has highlighted the ill intentions of the group’s promoters and associated individuals.
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 classified as proceeds of crime. The ED remains committed to actively pursuing financial criminals and ensuring that the proceeds of crime are returned to their rightful claimants. Further investigations are ongoing.
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