On Thursday, the Enforcement Directorate temporarily seized thirty-one pieces of real estate, valued at 581.65 crore, in its investigation of Reliance Home Finance Limited (RHFL) and Reliance Commercial Finance Limited (RCFL). The order under the Prevention of Money Laundering Act (PMLA) was given on March 11th, following searches earlier that month.
What assets have been seized
The seized assets are mainly land in thirteen states and territories: Goa, Kerala, Karnataka, Punjab, Tamil Nadu, Uttar Pradesh, Haryana, Jharkhand, Maharashtra, Delhi, West Bengal, Andhra Pradesh and Rajasthan. The Enforcement Directorate stated that the properties are worth a total of 581.65 crore.
The temporary seizure came after searches on March 6th relating to a separate Foreign Exchange Management Act (FEMA) inquiry concerning Reliance Power. The ED stated that this latest action is part of a bigger investigation into the supposed diversion of funds from RHFL and RCFL.
How the investigation began, and how far it goes
The investigation began from a report by the Central Bureau of Investigation and complaints from Yes Bank, Union Bank of India, and Bank of Maharashtra. The bodies claim that RHFL and RCFL took money from the public from various lenders, and over 11,000 crore of that money became non-performing assets.
ED officials say the inquiry started in July 2025 and has grown to look into complicated deals throughout the Reliance Anil Ambani Group. Authorities are checking transfers between companies, routing via third parties, and the supposed use of shell companies to move money inside the group.
What is claimed about diversion of funds and use of shell companies
The ED claims that money taken by RHFL and RCFL was diverted to a number of group companies – Reliance Infrastructure, Reliance Power, Reliance Communications and Reliance Capital – by sending the money through several shell, or dummy, companies run by the group.
The ED describes these shell companies as having very little financial power and no real business activity. Officials say that ‘layering’ through such companies hid where the public money came from and what it was used for, and raised fears of money laundering and bank fraud.
Total seizures and other enforcement actions
This latest seizure makes the total amount connected to the Reliance Anil Ambani Group 16,310 crore, the ED said. Previous actions include seizures worth more than 15,729 crore in cases relating to RCFL, RHFL, and Reliance Communications.
During recent operations, the ED also froze 2.48 crore in fixed deposits, mutual funds and cash under PMLA and FEMA. The body seized amounts in thirteen bank accounts of Reliance Infrastructure, worth 77.86 crore, under Section 37A of FEMA.
Legal background, and what will happen next in the process of recovering money
The temporary seizure is a short-term step under PMLA while investigations go on, and does not decide guilt. The ED said that it is pursuing those involved and working to get back money that was supposedly diverted, for the correct claimants – including the banks who lent the money.
Separately, a case registered by the CBI names Anil Ambani, Reliance Communications, and a former company director in connection with an alleged bank fraud of more than 1,085 crore. The legal process which is happening will involve forensic checks of accounts, more searches, and possible prosecutions.
These events add to the continuing regulatory and legal problems of the Reliance Anil Ambani Group. People in the market, and those to whom money is owed, will watch to see if the enforcement actions lead to getting assets back, agreements, or criminal charges, and how these results affect repayments to those owed money and trust from investors.
