ED Attaches 31 Properties Worth ₹581.65 Crore in Reliance Home Finance Bank Fraud Case
Moneylife Digital Team 13 March 2026
The directorate of enforcement (ED) has provisionally attached 31 immovable properties worth ₹581.65 Crcre in connection with an alleged bank fraud involving Reliance Home Finance Ltd (RHFL) and Reliance Commercial Finance Ltd (RCFL).
 
The attached assets include land parcels spread across Goa, Kerala, Karnataka, Punjab, Tamil Nadu, Uttar Pradesh, Haryana, Jharkhand, Maharashtra, Delhi, West Bengal, Andhra Pradesh and Rajasthan. The attachment order was issued on 11 March 2026 under the provisions of the Prevention of Money Laundering Act (PMLA). 
 
The action follows search operations carried out on 6 March 2026 in connection with the probe into Reliance Power Ltd (R-Power) under the Foreign Exchange Management Act (FEMA).
 
With the latest attachment, the cumulative value of assets attached by ED in cases linked to the Reliance Anil Dhirubhai Ambani (R-ADA) group has reached ₹16,310 crore.
 
Officials say the agency had earlier attached properties worth more than ₹15,729 crore in bank fraud cases linked to RHFL, RCFL and Reliance Communications Ltd (RCom).
 
During search operations conducted under PMLA and FEMA provisions, investigators also froze or seized assets worth ₹2.48 crore in the form of fixed deposits, mutual funds and cash.
 
In addition, balances in 13 bank accounts of Reliance Infrastructure Ltd (R-Infra) amounting to ₹77.86 crore were seized under Section 37A of FEMA.
 
ED initiated its investigation on 22 July 2025 based on several first information reports (FIRs) registered by central bureau of investigation (CBI).
 
The FIRs were filed under Sections 120-B and 420 of the Indian Penal Code and Section 13 of the Prevention of Corruption Act, 1988 against RCFL and RHFL.
 
The complaints were lodged by major lenders including Yes Bank, Union Bank of India and Bank of Maharashtra.
 
According to ED investigators, RHFL and RCFL had raised large amounts of public funds from banks and financial institutions. More than ₹11,000 crore of these funds later turned into non-performing assets (NPAs).
 
The agency says its investigation revealed that the funds were allegedly diverted to several group companies including Reliance Infrastructure, Reliance Power, Reliance Communications and Reliance Capital Ltd.
 
Officials say the funds were routed through a network of shell and dummy companies controlled by entities linked to the Reliance ADA group.
 
According to ED, many of the shell entities used in the transactions had negligible financial strength and no genuine business operations.
 
Investigators say the transactions revealed a deliberate scheme to siphon off public funds. The agency says it has identified the modus operandi used by group entities to route and divert the money.
 
The properties attached through the provisional attachment order dated 11 March 2026 represent the value of the alleged proceeds of crime uncovered during the investigation.
 
Further investigation in the case is ongoing, the agency says.
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