Shares of Anil Ambani’s Reliance Power and Reliance Infrastructure tanked amid reports of fresh action by the Enforcement Directorate (ED) against Reliance Group Chairman. Reliance Infra share price hit 5% lower circuit at ₹168.55 apiece on the BSE, while Reliance Power share price declined 4.6% from day’s high level.According to reports, Enforcement Directorate has intensified its investigation into the Anil Ambani–led Reliance Group by attaching additional properties estimated at more than Rs 3,000 crore, adding to a series of high-value seizures made over the past few weeks. The latest order covers about 40 assets spread across major cities including Mumbai, Delhi, Noida, Ghaziabad, Pune, Thane, Chennai, Hyderabad and parts of Andhra Pradesh.
These assets include premium residential holdings such as the Pali Hill property in Mumbai as well as commercial sites and land parcels linked to entities within the broader Reliance ADA Group ecosystem.The move follows an earlier seizure of the 132-acre Dhirubhai Ambani Knowledge City land in Navi Mumbai valued at roughly Rs 4,462 crore. With this, the cumulative value of assets attached by the ED in the ongoing money-laundering investigation now exceeds Rs 7,500 crore. The attachments have been made under the Prevention of Money Laundering Act and stem from probes into the financial operations of Reliance Home Finance and Reliance Commercial Finance, particularly the manner in which these companies raised and deployed funds.
Investigators allege that substantial sums borrowed from lenders, including Yes Bank, were diverted using a network of interconnected entities rather than being used for core lending activities. The ED claims that parts of these borrowings were used to evergreen older loans, while other amounts were moved to companies allegedly linked to the group through indirect ownership or control. Officials have also pointed to poor credit appraisal practices, weak documentation, and instances where loans were disbursed before formal sanction, portraying a pattern that regulators describe as irregular and opaque.The Reliance ADA Group has rejected the allegations of wrongdoing, asserting that many of the attached assets belong to Reliance Communications, which has been under the supervision of a resolution professional and its creditors for several years. The group maintains that its ongoing businesses—particularly Reliance Infrastructure and Reliance Power—are not operationally affected and that Anil Ambani does not hold board positions in key listed entities. It has also stressed that the attachments do not alter daily operations or its ability to meet obligations.The latest provisional attachment order has been issued under the Prevention of Money Laundering Act (PMLA) for the assets located in various parts of the country.