ED attaches Anil Ambani’s Mumbai flat, son’s Khandala farmhouse in bank cheating cases

Action aims to prevent asset dissipation amid allegations of large-scale bank loan defaults

April 28, 2026

RCom fraud probe widens

The Enforcement Directorate (ED) on Tuesday attached a Mumbai flat belonging to debt-sunken industrialist Anil Ambani and a Khandala farmhouse held jointly by his son Jai Anshul Ambani under a Rs.3,034 crore worth attachment in a bank “fraud”-linked money laundering probe against Reliance Communications.

The provisional attachment under the Prevention of Money Laundering Act (PMLA) has been made to prevent dissipation of assets and to protect the interests of banks and the public, the Enforcement Directorate said in a statement. Anil Ambani’s companies, like Reliance Communications, Reliance Telecom, Reliance Infra, and Reliance Naval, have defaulted more than Rs.73,00 crore to 12 banks.[1]

The money laundering case stems from a clutch of CBI FIRs registered on the basis of the complaints of State Bank of India, Punjab National Bank, Bank of Baroda, and Life Insurance Corporation of India against Reliance Communications (RCom), Anil Ambani, and others. RCom and its group companies availed loans from domestic and foreign lenders, of which a total amount of Rs.40,185 crore is outstanding, according to the ED. The agency informed the Supreme Court that more than Rs.73,000 crore loans were dolled out to Anil Ambani’s companies by banks in the last 20 years.

ED said a flat in Usha Kiran Building at Cumballa Hill in South Mumbai, belonging to Anil Ambani, a farmhouse in Pune’s hill station of Khandala held in the name of Ambani’s son Jai Anshul Ambani and Luna Trust, and a land parcel in Ahmedabad’s Sanand area in the name of Mudra Foundation for Communications Research and Education (MICA) have been attached. The attachment also includes 7.71 crore shares of Reliance Infrastructure Ltd, held by Risee Infinity, a group entity of Anil Ambani under the RiseE Trust umbrella. The ED said this was a private family Trust of Anil Ambani.

ED stated that the RiseE Trust was established to “ensure” wealth preservation and resource generation by aggregating properties within the Trust and shielding 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.

“The properties were intended to be beneficially used and owned by the Anil Ambani family and not for the distressed public banks whose loans turned NPA,” it said.

The ED said it is committed to restoring the allegedly defrauded assets in this case to the victims, which are the lender banks and financial institutions. Such a provision is available under Section 8 of the PMLA, and it is called restitution of assets. With the latest action, the total attachment of properties in the cases against the Reliance Anil Ambani Group stands at Rs.19,344 crore. The Group is being investigated by the ED on charges of bank fraud and diversion of funds.

Meanwhile, Anil Ambani’s Reliance Group spokesperson reacted to the development, saying some of the attached properties belong to Kokilaben D Ambani, Anil Ambani’s mother.

Reference:

[1] Dirty dozen defaulters behind over Rs 5 lakh crore banking hole – Apr 20, 2026, J Gopikrishnan

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