Overview
- Today's provisional action covers more than 18 assets spanning properties, fixed deposits, bank balances, and unquoted investments tied to the RHFL–RCFL–Yes Bank case.
- The list includes seven properties of Reliance Infrastructure, two of Reliance Power, and nine of Reliance Value Service, with multiple fixed deposits and unquoted stakes frozen across related entities.
- ED cites Yes Bank investments of Rs 2,965 crore in RHFL and Rs 2,045 crore in RCFL during 2017–2019 that turned non-performing by December 2019, leaving Rs 1,353.50 crore and Rs 1,984 crore outstanding.
- The probe draws on a CBI FIR naming Reliance Communications and Anil Ambani, with ED noting Rs 40,185 crore in outstanding group borrowings and nine banks classifying the accounts as fraud.
- Investigators allege evergreening of loans of over Rs 13,600 crore, diversion of more than Rs 12,600 crore to connected parties, rerouting of over Rs 1,800 crore via FDs and mutual funds, misuse of bill discounting, and some outward remittances, with further action pending and no public response from the group reported.