RCOM ₹40,000 Cr Loan Default Case: ED Attaches Anil Ambani’s ₹3,716 Cr Mumbai Residence

Synopsis :- The Enforcement Directorate has attached a ₹3,716 crore Mumbai property in its probe into the alleged ₹40,000 crore loan default by Reliance Communications under PMLA.

In a significant development related to one of India’s high-profile corporate debt cases, the Enforcement Directorate (ED) has taken action in connection with its ongoing investigation into the alleged Rs. 40,000 crore loan default involving Reliance Communications (RCOM). 

The case pertains to financial transactions and borrowings that have been under regulatory scrutiny for several years, drawing attention from lenders, investigators, and market participants. The latest development marks another step in the broader probe into the company’s financial dealings and associated entities.

What’s the News?

The Enforcement Directorate (ED) has provisionally attached a luxury residential property worth Rs. 3,716 crore linked to businessman Anil Ambani in Mumbai’s Pali Hill area. The 17-storey residence, known as ‘Abode’, has been attached under the provisions of the Prevention of Money Laundering Act (PMLA) as part of an ongoing investigation into alleged financial irregularities and bank fraud.

RCOM Loan Default Under Investigation

The action is tied to a probe against Reliance Communications (RCOM), which is accused of defaulting on loans amounting to over Rs. 40,000 crore. The ED’s case is based on a First Information Report registered by the Central Bureau of Investigation (CBI) against RCOM, Anil Ambani, and others. According to investigators, loans taken from domestic and foreign banks allegedly turned into non-performing assets (NPAs), prompting a deeper investigation into the end use of funds and related transactions.

Allegations Around RiseE Trust

During the probe, the ED found that the Pali Hill property had been transferred to a private family trust called RiseE Trust. The agency alleges that this restructuring was done to distance the asset from Anil Ambani’s personal ownership and shield it from liabilities arising from personal guarantees extended to banks. Officials claim the property was intended for the benefit of the Ambani family rather than for recovery by distressed lenders.

Total Attachments and Ongoing Questioning

With this latest action, the total value of assets attached in connection with the case has crossed Rs. 15,700 crore. Anil Ambani has been summoned again for questioning, marking his second appearance before the agency in this matter. His wife, Tina Ambani, was also called for inquiry in relation to financial transactions under scrutiny. The investigation remains ongoing as authorities examine alleged money laundering and fund diversion linked to the massive loan default case.

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