ED attaches ₹510.17 crore in Reliance group cases

The Enforcement Directorate said on November 3 that it had provisionally attached assets valued at ₹510.17 crore in alleged bank-fraud cases involving three companies linked to the Reliance Anil Ambani Group. The agency said the assets included aircraft, land, office premises, windmills and financial holdings. The attachment relates to investigations involving Reliance Communications Limited (RCOM), Reliance Home Finance Limited (RHFL) and Reliance Commercial Finance Limited (RCFL). The ED’s reported breakdown was ₹247.12 crore in the RCOM matter and ₹263.05 crore in the RHFL and RCFL matter. In the RCOM case, the agency identified two charter aircraft, six land parcels and office premises in Maharashtra. The aircraft were described as a Dassault Falcon 2000 and an Embraer jet. Assets attached in the RHFL and RCFL matter included two windmills in Tamil Nadu, along with bank balances, fixed deposits, securities investments and receivables. The ED said the latest action brought the cumulative value of assets attached or seized across several cases involving the group to about ₹23,100 crore. That total covers actions under the Prevention of Money Laundering Act and the Foreign...