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Informative

ED Attaches Properties Worth ₹1,452 Crore in RCOM Fraud Case.

Update / Judgement Date

19 Nov 2025

Source

WCP News Bulletin

Author

Sakshi Bhardwaj — WCP Legal Desk

Reading Time

2 min read

Financial ManagementOther Legal Matters
ED Attaches Properties Worth ₹1,452 Crore in RCOM Fraud Case.
WCP News Bulletin
Headnote:

The Enforcement Directorate provisionally attached properties valued at ₹1,452.51 crore across multiple cities in connection with the bank fraud involving Reliance Communications Ltd. (RCOM) and related group companies. With this, the cumulative attachment in the case has risen to approximately ₹8,997 crore. The investigation reveals large-scale loan diversion, evergreening, misuse of bank funds, and siphoning of money outside India.


Background:
  1. ED issued provisional attachment orders under the Prevention of Money Laundering Act, 2002 (PMLA).
  2. Attached assets include buildings in Dhirubhai Ambani Knowledge City (DAKC) and Millennium Business Park (Navi Mumbai), along with land and buildings in Pune, Chennai, and Bhubaneswar.
  3. Earlier attachments in related cases exceeded ₹7,545 crore.
  4. ED began the probe based on a CBI FIR under IPC and the Prevention of Corruption Act, naming RCOM, Anil Ambani, and others.
  5. RCOM and group entities borrowed from domestic and foreign lenders between 2010–2012; outstanding dues stand at ₹40,185 crore.
  6. Nine banks have classified the accounts as fraud.


Key Findings of ED Investigation:
  1. Loans taken from one bank were used to repay loans from other banks, violating sanction conditions.
  2. Massive fund diversion detected:
  3. ₹13,600 crore diverted for evergreening of loans.
  4. ₹12,600 crore diverted to connected or related parties.
  5. ₹1,800 crore invested in fixed deposits / mutual funds, later liquidated and rerouted to group entities.
  6. Extensive misuse of bill discounting mechanisms to channel funds to related parties.
  7. Significant amounts were siphoned outside India through foreign outward remittances.


Current Status:
  1. Total value of assets attached in the RCOM group fraud cases: ₹8,997 crore.
  2. ED states that it remains committed to combating financial crimes and recovering proceeds of crime for legitimate claimants.
  3. Further investigation is ongoing.

Press Release Date: 20 November 2025

Authority: Directorate of Enforcement (ED), Special Task Force, Headquarters