The Enforcement Directorate (ED) conducted search operations at M/s E-Complex Private Limited and a director’s residential premises linked to the Reliance Anil Ambani Group. Evidence related to suspicious transactions and assets owned by the group was seized during the search. Documents and records concerning immovable properties and materials relevant to a bank scam case were also confiscated. Public funds totaling crores, raised by Reliance Home Finance Limited (RHFL) and Reliance Commercial Finance Limited (RCFL), were allegedly diverted through shell companies controlled by the group.
Investigations suggest that corporate loans were granted to these entities without proper due diligence, violating lending norms. The beneficiary entities were reportedly financially weak with little repayment capacity. The directors of these shell companies were allegedly associates of the Reliance Anil Ambani Group and operated under the group’s senior management’s directions. The Enforcement Directorate filed a Prosecution Complaint in this case on June 12, 2026.
Proceeds of crime amounting to Rs 15,548 crore have been identified, with properties worth Rs 4,510 crore attached under the PMLA. Properties valued at Rs 3,926 crores have been confirmed by the Adjudicating Authority. Earlier arrests were made in connection with fund diversion from RHFL and RCFL, both subsidiaries of Reliance Capital Limited. The accused individuals are currently in judicial custody. The investigation is ongoing, focusing on the alleged diversion of public funds by RHFL and RCFL under the PMLA.
