<p>Mumbai: In a major setback to Reliance Group Chairman <a href="https://www.deccanherald.com/india/bombay-high-court-lifts-stay-on-banks-move-to-tag-anil-ambani-accounts-as-fraud-3909726">Anil Ambani</a>, the Enforcement Directorate has attached his Mumbai house, Abode, worth around Rs 3,716.83 crore, in an ongoing bank fraud case involving his group company. </p><p>The luxurious 17-floor house, which is 66 metres high, is located in Mumbai's Pali Hill area — a locality known for bungalows, duplexes and apartments of prominent figures from the art, entertainment, business and political fields. </p><p>Reliance Group company Reliance Communications Ltd (RCOM) is under investigation by the ED under the Prevention of Money Laundering Act (PMLA).</p><p>With the latest order, the total value of the attachment in this case stands at around Rs 15,700 crore.</p><p>The action was carried out by ED’s Special Task Force, which is investigating the case. </p><p>Earlier, part of this property was attached to the extent of Rs 473.17 crores.</p><p>The ED had initiated investigation based on CBI's FIR under sections 120-B, 406 and 420 of the Indian Penal Code, 1860 and section 13(2) read with section 13(1)(d) of the Prevention of Corruption Act, 1989 against RCOM, Mr. Anil Ambani, and others.</p><p>“RCOM and its group companies availed loans from domestic and foreign lenders of which a total amount of Rs 40,185 crore is outstanding,” ED officials said on Wednesday. </p>.'Fully cooperating with probe; not to leave country without prior nod': Anil Ambani tells Supreme Court.<p>“ED investigation has revealed that among other assets, the Pali Hill property was aggregated into the RiseE Trust - a Private Family Trust of the members of Anil Ambani's family. This was done to make it appear as though Anil Ambani is not involved,” they said. </p><p>The intended effect of this corporate restructuring was to ensure wealth preservation and resource generation by aggregation of the property in the Riset 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. </p><p>The property was intended to be beneficially used and owned by the Anil Ambani family and not for the distressed public banks whose loans turned NPA.</p><p>It should be mentioned that in November 2025, the ED attached properties worth Rs 1,452 crore including the iconic Dhirubhai Ambani Knowledge City and Millenium Business Park in Navi Mumbai linked to Anil Ambani.</p>
<p>Mumbai: In a major setback to Reliance Group Chairman <a href="https://www.deccanherald.com/india/bombay-high-court-lifts-stay-on-banks-move-to-tag-anil-ambani-accounts-as-fraud-3909726">Anil Ambani</a>, the Enforcement Directorate has attached his Mumbai house, Abode, worth around Rs 3,716.83 crore, in an ongoing bank fraud case involving his group company. </p><p>The luxurious 17-floor house, which is 66 metres high, is located in Mumbai's Pali Hill area — a locality known for bungalows, duplexes and apartments of prominent figures from the art, entertainment, business and political fields. </p><p>Reliance Group company Reliance Communications Ltd (RCOM) is under investigation by the ED under the Prevention of Money Laundering Act (PMLA).</p><p>With the latest order, the total value of the attachment in this case stands at around Rs 15,700 crore.</p><p>The action was carried out by ED’s Special Task Force, which is investigating the case. </p><p>Earlier, part of this property was attached to the extent of Rs 473.17 crores.</p><p>The ED had initiated investigation based on CBI's FIR under sections 120-B, 406 and 420 of the Indian Penal Code, 1860 and section 13(2) read with section 13(1)(d) of the Prevention of Corruption Act, 1989 against RCOM, Mr. Anil Ambani, and others.</p><p>“RCOM and its group companies availed loans from domestic and foreign lenders of which a total amount of Rs 40,185 crore is outstanding,” ED officials said on Wednesday. </p>.'Fully cooperating with probe; not to leave country without prior nod': Anil Ambani tells Supreme Court.<p>“ED investigation has revealed that among other assets, the Pali Hill property was aggregated into the RiseE Trust - a Private Family Trust of the members of Anil Ambani's family. This was done to make it appear as though Anil Ambani is not involved,” they said. </p><p>The intended effect of this corporate restructuring was to ensure wealth preservation and resource generation by aggregation of the property in the Riset 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. </p><p>The property was intended to be beneficially used and owned by the Anil Ambani family and not for the distressed public banks whose loans turned NPA.</p><p>It should be mentioned that in November 2025, the ED attached properties worth Rs 1,452 crore including the iconic Dhirubhai Ambani Knowledge City and Millenium Business Park in Navi Mumbai linked to Anil Ambani.</p>