India’s Enforcement Directorate (ED) has ordered the freezing of properties linked to the Anil Ambani Group worth an estimated $853 million, as part of an ongoing investigation into alleged financial irregularities and money laundering.
According to officials familiar with the case, the action targets both domestic and overseas assets tied to several subsidiaries of the Reliance Group controlled by billionaire businessman Anil Ambani. The ED suspects that funds were diverted through complex transactions involving offshore entities.
The agency stated that the measure was taken under the Prevention of Money Laundering Act (PMLA) after evidence emerged suggesting misuse of bank loans and fraudulent financial practices. Investigators are also said to be reviewing links between the group’s investments and foreign tax havens.
In response, a spokesperson for the Anil Ambani Group denied any wrongdoing, describing the move as “unjustified” and “politically motivated.” The company added that it would cooperate fully with authorities to resolve the matter through legal means.
This latest action marks a significant escalation in India’s crackdown on financial misconduct, as regulators continue to tighten oversight on corporate lending and capital flows. Analysts say the case could have far-reaching implications for corporate governance and investor confidence in the country’s financial sector.
