Daijiworld Media Network - Mumbai

Mumbai, Feb 25: The Enforcement Directorate (ED) has issued a provisional attachment order against ‘Abode’, the opulent Mumbai residence of Anil Ambani, valued at Rs 3,716.83 crore, under the Prevention of Money Laundering Act (PMLA), 2002.

Located in the upscale Pali Hill area, the 66-metre-high, 17-storey luxury tower has been attached in connection with the alleged bank fraud case involving Reliance Communications (RCOM). Official sources confirmed that the move pushes the total value of attachments in the case to around Rs 15,700 crore.

The ED stated that the action follows a prior partial attachment of Rs 473.17 crore on the same property. The agency’s probe stems from a CBI FIR that charged RCOM, Anil Ambani and others under IPC sections related to criminal conspiracy, breach of trust and cheating, along with provisions of the Prevention of Corruption Act.

According to investigators, RCOM and its affiliated entities had borrowed heavily from domestic and foreign lenders, leaving Rs 40,185 crore unpaid. These loans subsequently turned into non-performing assets, impacting public sector banks.

The ED has alleged that ‘Abode’ was transferred to a family-controlled trust, RiseE Trust, in a bid to mask ownership and shield the asset from recovery proceedings linked to personal guarantees on RCOM loans. The restructuring, the agency claims, was aimed at preserving family wealth instead of repaying distressed lenders.

Anil Ambani, 66, had earlier appeared before the ED in August 2025, when his statement was recorded under PMLA provisions. He is expected to be summoned again as the investigation deepens.

The agency said it remains committed to tracing and confiscating assets allegedly linked to money laundering to safeguard the financial system and public funds. Further investigations in the RCOM bank fraud case are underway.