Reliance Infrastructure Limited on Monday clarified that the Enforcement Directorate’s (ED) provisional attachment of certain company assets under the Prevention of Money Laundering Act (PMLA) will not affect its business operations or stakeholders.

In a statement, the company said, “We wish to inform that certain assets of the company have been provisionally attached by the ED for the alleged violations under PMLA. There is no impact on the business operations, shareholders, employees or any other stakeholders of Reliance Infrastructure Limited.”

The company also emphasised that Anil D Ambani has not been on the board of Reliance Infrastructure for over three and a half years.

ED attaches DAKC land worth ₹4,462 crore

The clarification followed the ED’s announcement that it had attached 32 acres of land at Dhirubhai Ambani Knowledge City (DAKC) in Navi Mumbai, valued at ₹4,462 crore. The attachment is part of a wider money laundering investigation linked to alleged bank fraud involving Reliance Communications Ltd (RCOM), Reliance Commercial Finance Ltd (RCFL), and Reliance Home Finance Ltd (RHFL).

With the latest order, the total assets attached in connection with companies linked to Anil Ambani now exceed ₹7,500 crore, according to the agency.

The ED stated that five provisional attachment orders were issued under the PMLA — four on October 31 and one on November 4 — covering 42 properties across major Indian cities. These include Ambani’s Pali Hill residence, Reliance Centre on Maharaja Ranjit Singh Marg in Delhi, and several commercial and residential assets tied to Reliance Infrastructure and related entities such as Adhar Property Consultancy Pvt Ltd, Vihaan43 Realty Pvt Ltd, and Campion Properties Ltd.

Properties in Mumbai, Delhi, Noida, Ghaziabad, Pune, Thane, Hyderabad, Chennai, and East Godavari (Andhra Pradesh) are among those provisionally attached.

ED cites diversion of public money

The ED alleged that its probe uncovered “fraudulent diversion of public funds” by multiple Reliance Anil Ambani Group (RAAG) entities. Between 2010 and 2012, RCOM and its group firms reportedly raised thousands of crores in loans from various Indian banks, of which ₹19,694 crore remains unpaid.

According to the agency, loans taken by one group company were allegedly used to repay another, transferred to related parties, or invested in mutual funds — in violation of lending terms. The ED’s analysis suggests that ₹13,600 crore was used for loan evergreening, ₹12,600 crore diverted to connected entities, and ₹1,800 crore invested in fixed deposits and mutual funds.

Yes Bank exposure and FEMA findings

The ED further revealed that between 2017 and 2019, Yes Bank invested ₹2,965 crore in RHFL and ₹2,045 crore in RCFL, both of which later turned non-performing. Together, the two companies allegedly received over ₹10,000 crore in public funds, largely from Yes Bank.

In a separate probe under the Foreign Exchange Management Act (FEMA), the agency said it detected the siphoning of ₹40 crore from Reliance Infrastructure’s Jaipur–Reengus highway project through Surat-based shell companies to Dubai. The network, according to the ED, was part of an international hawala racket worth over ₹600 crore.

Recovery efforts underway

The agency stated that its actions are aimed at identifying and recovering proceeds of crime and restoring the funds to “victim banks” via the legal restitution mechanisms under the PMLA.

Anil Ambani was earlier questioned by the ED in August, following extensive searches in July across 35 locations linked to about 50 companies and 25 individuals, including key executives from his group firms.

Despite the ongoing probe, Reliance Infrastructure maintained that the attachment would not disrupt its daily operations or commitments to stakeholders.