Mumbai, 4 November 2025 – In a fresh escalation of its money-laundering investigation into the Reliance Anil Ambani Group (RAAG), the Enforcement Directorate (ED) has attached 132 acres of land belonging to the Dhirubhai Ambani Knowledge City (DAKC) in Navi Mumbai, valued at an estimated ₹4,462 crore. The move follows Monday’s freezing of assets worth ₹30.84 billion connected to the same case, marking one of the largest property seizures by the agency in recent months.
The attachment order, issued under the Prevention of Money Laundering Act (PMLA), is linked to alleged irregularities in loans extended by Yes Bank to group entities between 2017 and 2019. Officials claim that a portion of the loans—sanctioned to Reliance Home Finance Ltd (RHFL) and Reliance Commercial Finance Ltd (RCFL)—was diverted through shell entities, bypassing the intended business uses.
What the ED Said
According to officials, the land parcel is registered under multiple RAAG-linked entities and was allegedly used as collateral against the questionable loans. Investigators claim to have uncovered a network of intermediary firms through which funds were moved to “mask the true ownership and usage” of the money.
About the Seized Property
The Dhirubhai Ambani Knowledge City, spread over 132 acres in Kopar Khairane, was once the flagship campus of the Anil Ambani Group and housed offices of Reliance Communications (RCom), Reliance Capital, and other subsidiaries. The sprawling complex, named after the late Dhirubhai Ambani, also features extensive infrastructure, including office towers, telecom facilities, and staff housing blocks.
Group’s Response
A spokesperson for the Reliance Anil Ambani Group called the ED’s move “unwarranted and excessive,” asserting that “all group transactions were conducted transparently and within the framework of law.” The group added that it will contest the attachment order before the Adjudicating Authority under the PMLA and “extend full cooperation to the investigation.”
Legal and Market Impact
Legal experts note that this attachment further tightens the agency’s grip over RAAG’s assets, potentially complicating any ongoing debt-restructuring or settlement processes. It also raises questions over the fate of DAKC’s operational and leased facilities, some of which are currently occupied by private firms and government departments.
Meanwhile, markets reacted cautiously. Shares of group companies such as Reliance Capital Ltd. and Reliance Home Finance Ltd. witnessed marginal dips in early Tuesday trading, amid concerns of deeper regulatory scrutiny.
Broader Implications
The DAKC seizure underscores the ED’s widening focus on high-value corporate real-estate as part of money-laundering probes, especially when properties are believed to be acquired or mortgaged using diverted bank funds. Analysts suggest that this could set a precedent for future financial-crime enforcement targeting conglomerates.
What’s Next
The agency is expected to file a detailed prosecution complaint in the coming weeks, outlining fund-flow trails and asset-mapping evidence. If upheld, the attachment may be converted into a permanent confiscation, pending judicial review.
Eduvista Daily Insight: The latest action signals an aggressive push by financial regulators to hold influential business houses accountable for alleged misuse of institutional credit. As investigations deepen, India’s corporate-compliance landscape may face a reckoning in transparency and risk governance.
