ED attaches ₹1,120-cr assets linked to Reliance Anil Ambani Group in YES Bank 'fraud case'

Core Points - The Enforcement Directorate (ED) has attached assets worth ₹1,120 crore related to the Reliance Anil Ambani Group due to alleged fraud involving Reliance Home Finance Limited (RHFL), Reliance Commercial Finance Limited (RCFL), and Yes Bank [1] - The total value of assets seized from the group has now reached ₹10,117 crore [3] - The ED's investigations indicate significant diversion of public funds by group companies, including Reliance Communications (RCOM), RHFL, and RCFL [4] Asset Details - The attached assets comprise over 18 properties, fixed deposits, bank balances, and unquoted shareholdings, including seven properties from Reliance Infrastructure Limited and two from Reliance Power Limited [2] - Fixed deposits and investments linked to several entities, including Reliance Value Service Pvt Ltd and Reliance Venture Asset Management Pvt Ltd, have also been seized [2] Financial Misconduct Allegations - The ED alleges that over ₹11,000 crore of public money was misappropriated through mutual fund investments and Yes Bank lending, bypassing SEBI conflict-of-interest regulations [5] - Yes Bank invested ₹2,965 crore in RHFL and ₹2,045 crore in RCFL instruments between 2017 and 2019, which later became non-performing assets [4] Additional Investigations - The ED is also investigating a Central Bureau of Investigation FIR against RCOM, Anil Ambani, and associates concerning loans totaling ₹40,185 crore taken between 2010 and 2012 [6] - Allegations include the diversion of over ₹13,600 crore for loan evergreening and misuse of bill discounting mechanisms [6][7]