Anil Ambani’s Rs 3,716 Cr Mumbai Home Attached by ED
Guwahati: In a significant escalation of the financial and legal troubles surrounding industrialist Anil Ambani, the Enforcement Directorate (ED) has provisionally attached his 17-storey luxury residence ‘Abode’ in Mumbai’s Pali Hill, valued at Rs 3,716 crore. The action has been taken under the provisions of the Prevention of Money Laundering Act (PMLA) in connection with alleged bank loan fraud and diversion of funds linked to companies of the Reliance ADA Group. The attachment marks one of the highest-value personal properties to be provisionally seized in a corporate fraud investigation in recent years. Officials indicated that the move follows ongoing investigations into financial transactions involving group entities, particularly telecom and financial services arms that defaulted on massive loan obligations. After the 2005 split of the Reliance empire between Anil Ambani and his elder brother Mukesh Ambani, the younger Ambani took charge of businesses spanning telecom, infrastructure, power, financial services and entertainment.