According to the agency’s statement, the fresh attachments cover aircraft, bank balances, fixed deposits, immovable properties, receivables and investments linked to Reliance Home Finance Limited (RHFL), Reliance Commercial Finance Limited (RCFL) and Reliance Communication Limited.
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The ED said assets worth ₹263.05 crore were attached in the Reliance Home Finance and Reliance Commercial Finance bank fraud case, while another ₹247.12 crore was attached in the Reliance Communication bank fraud case.
In the Reliance Communication case, the attached properties include two chartered aircraft, six land parcels and office premises in Maharashtra.
In the RCFL and RHFL cases, the ED attached two windmills in Tamil Nadu, along with bank balances, fixed deposits, investments and receivables.
The agency said the investigations were initiated on the basis of multiple FIRs registered by the CBI in Delhi and the Economic Offences Wings (EOW) in Delhi and Mumbai.
The cases involve Reliance Communication, Reliance Home Finance, Reliance Commercial Finance, Reliance Infrastructure, Reliance Power and Reliance Capital.
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The ED alleged that its investigation had uncovered the diversion of public funds obtained from banks and financial institutions.
“ED investigation into the Reliance Anil Ambani Group revealed that Group was involved in siphoning off of public funds from banks and financial institutions, misuse of IBC Law to fraudulently ring-fence corporate assets for personal use, diversion of public funds from India to offshore tax havens, etc,” the agency said in its statement.
It further alleged that a large portion of the funds was used for the personal benefit of the promoters and their families.
The ED said it had arrested 10 individuals in the cases and filed six prosecution complaints under the Prevention of Money Laundering Act (PMLA), 2002.
Another complaint has been filed under the Foreign Exchange Management Act (FEMA).
