ED Attaches Anil Ambani’s Pali Hill Property Worth ₹3,716 Crore Over Loan Fraud Probe

Mumbai: The Enforcement Directorate (ED) on Wednesday announced the provisional attachment of a luxury residential property owned by industrialist Anil Ambani in Mumbai’s Pali Hill, valued at ₹3,716 crore, in connection with an alleged bank loan fraud case.

In an official statement, the ED said the attachment was carried out under the Prevention of Money Laundering Act (PMLA) following an investigation into loans obtained by companies linked to the Reliance Anil Dhirubhai Ambani Group. The agency alleged that the funds were diverted and misutilised, resulting in significant losses to public sector banks.

According to the press release, the probe revealed that loan amounts raised for specific business purposes were allegedly siphoned off through layered transactions and related entities, instead of being deployed for the intended projects. The ED stated that the attached property represents proceeds of crime generated through the alleged fraudulent activities.

The case stems from multiple complaints filed by banks, which classified the loan accounts as fraudulent after identifying serious irregularities in fund usage. The ED added that further investigation is underway to trace additional assets and individuals linked to the alleged offence.

The agency clarified that the attachment is provisional and subject to confirmation by the adjudicating authority under the PMLA.