Overview
- The provisional order covers more than 18 assets, including the Reliance Centre in Ballard Estate, an Andheri office, a Santacruz guesthouse and residences, plus 231 plots and seven flats in Chennai, alongside fixed deposits and unquoted investments.
- ED says Yes Bank invested Rs 2,965 crore in RHFL and Rs 2,045 crore in RCFL during 2017–2019, which turned non-performing by December 2019 with Rs 1,353.5 crore and Rs 1,984 crore outstanding respectively.
- The money-laundering probe stems from a CBI FIR naming Reliance Communications, Anil Ambani and others, with ED citing RCom-era borrowings of Rs 40,185 crore and nine banks classifying related loan accounts as fraud.
- According to the agency, funds were diverted on a large scale, including about Rs 13,600 crore for evergreening, Rs 12,600 crore to connected parties and over Rs 1,800 crore cycled through fixed deposits and mutual funds, with some sums remitted abroad.
- Reliance Power issued a clarification stating that Rs 8,078 crore of the cumulative attachments pertain to Reliance Communications, which it says left the group in 2019 and is under CIRP, while the company continues operations and plans legal steps.