India’s ED attaches ₹1,885 crore in assets linked to Anil Ambani’s group over alleged fraud involving ₹11,000 crore.

The Enforcement Directorate has provisionally attached assets worth ₹1,885 crore linked to Anil Ambani’s Reliance Group, bringing total attachments in related cases to about ₹12,000 crore. The move targets bank balances, shares in unlisted firms like BSES and Mumbai Metro One, receivables, and properties tied to fraud probes involving Reliance Home Finance, Reliance Commercial Finance, Yes Bank, and Reliance Communications. The ED alleges public funds were diverted through complex routes, including investments via Yes Bank and the Reliance Nippon Mutual Fund, violating conflict rules, with over ₹11,000 crore funneled to group firms. Loans totaling ₹40,185 crore were misused for loan evergreening, payments to related parties, and investments, prompting nine banks to declare accounts fraudulent. The investigation, based on a CBI FIR, continues under the IPC and Prevention of Corruption Act.