The attached properties of Anil Ambani include a premium flat in Mumbai’s Usha Kiran Building, a farmhouse in Khandala near Pune, and a land parcel in Sanand, Ahmedabad.
The Enforcement Directorate (ED) on Tuesday said they have provisionally attached assets worth Rs 3,034.90 crore in the Reliance Communications Ltd (RCOM) bank fraud case, pushing the total attachments in cases linked to the Reliance Anil Ambani Group (RAAG) beyond Rs 19,344 crore.
The attached properties include a premium flat in Mumbai’s Usha Kiran Building, a farmhouse in Khandala near Pune, and a land parcel in Sanand, Ahmedabad.
“Besides the above, Rs 7.71 crore shares of Reliance Infrastructure Ltd., held by M/s Risee Infinity Pvt Ltd. – a group entity of Anil Ambani under the RiseE Trust umbrella, which is a Private Family Trust of the members of Anil Ambani’s family – were also attached,” an ED spokesperson stated on Tuesday.
The agency said that the RiseE Trust was set up to ensure wealth preservation and resource generation by aggregation of properties in RiseE Trust and shield it from the personal liabilities of Anil Ambani in the form of Personal Guarantees extended by him to lender banks against the loans sanctioned to RCOM. “The properties were intended to be beneficially used and owned by the Anil Ambani family and not for the distressed public banks whose loans turned NPA,” the spokesperson alleged.
Queries have been sent to Anil Ambani’s spokesperson, and their response is awaited.
The move comes as a Special Investigation Team (SIT), constituted on Supreme Court directions, is probing allegations of diversion and laundering of bank and public funds by RAAG entities.
According to ED, the agency has provisionally attached assets valued at Rs 3034.90 crore under Section 5 of the Prevention of Money Laundering Act (PMLA), 2002, in the RCOM bank fraud case.
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“The provisional attachment under PMLA has been made to prevent dissipation of assets and to protect the interests of banks and the public,” the spokesperson said.
Also read | CBI arrests two RCOM senior executives in bank fraud case
The ED’s probe stems from multiple CBI cases filed on complaints from the State Bank of India, Punjab National Bank, Bank of Baroda, and Life Insurance Corporation of India against RCOM, Anil Ambani, and others. “RCOM and its group firms owe Rs 40,185 crore to domestic and foreign lenders,” the spokesperson alleged.
