The ED provisionally attached the Pali Hill residential property, valued at ₹3,716.83 crore, linked to businessman Anil Ambani. This action is part of the alleged Reliance Communications Limited (RCom) bank fraud case, which took place. The total value of the attachments related to the group has now surpassed ₹15,700 crore.
Anil Ambani 3716 crore property in Mumbai Seized
Previously, the agency attached part of a Mumbai property called ‘Abode,’ worth ₹473.17 crore. The ED’s investigation follows a First Information Report filed by the Central Bureau of Investigation against RCom, Mr. Ambani, and others.
Alleged Loan Defaults of Over ₹40,000 Crore
The investigation claims RCom and its group companies borrowed from both domestic and foreign lenders, with a total outstanding amount of ₹40,185 crore.
“ED investigation has found that the Pali Hill property put into the RiseE Trust, which is a private family trust for Mr. Anil Ambani’s family. This move intended to make it seem like Mr. Anil Ambani not involved,” the ED said.
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