ED seizes 132 acres in DAKC worth Rs 4,000 crore linked to Anil Ambani’s Reliance group

New Delhi: The Enforcement Directorate (ED) has attached over 132 acres of land within the Dhirubhai Ambani Knowledge City (DAKC) in Navi Mumbai, valued at Rs 4,462.81 crore. This marks a significant development in the ongoing bank fraud case against Anil Ambani’s Reliance Group.

According to people familiar with the matter, with this latest action, the total value of assets attached in connection with the Reliance Group’s alleged loan frauds has risen to over Rs 7,500 crore.

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The attachment, carried out by the Directorate of Enforcement’s Special Task Force (Headquarters), was made under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, sources said. It follows an ongoing probe into the alleged diversion and misuse of bank loans by Reliance Communications Ltd (RCom) and other Anil Dhirubhai Ambani Group (ADAG) companies.

Previously, the ED had attached 42 properties worth over Rs 3,083 crore in cases involving RCom, Reliance Commercial Finance Ltd, and Reliance Home Finance Ltd.

The investigation stems from a CBI FIR filed under Sections 120-B, 406, and 420 of the Indian Penal Code (IPC), and Section 13(2) read with Section 13(1)(d) of the Prevention of Corruption Act, against RCom, Anil Ambani, and others.

On Monday, Reliance Infrastructure Ltd issued a clarification stating that certain assets of the company had been provisionally attached by the ED for alleged violations under the PMLA. “We wish to inform that certain assets of the Company have been provisionally attached by ED for the alleged violations under PMLA. There is no impact on the business operations, shareholders, employees or any other stakeholders of Reliance Infrastructure Limited. Mr. Anil D. Ambani is not on the Board of f Reliance Infrastructure Limited for more than 3.5 years,” the company said in its statement.