The Enforcement Directorate has attached 40 properties worth about Rs 3,084 crore linked to businessperson Anil Ambani’s Reliance Group companies as part of a money-laundering investigation, The Indian Express reported on Monday.

The properties include a house owned by Ambani in Mumbai, the Reliance Centre in Delhi and other properties in the national capital, Noida, Ghaziabad, Mumbai, Pune, Thane, Hyderabad, Chennai, Kancheepuram and Andhra Pradesh’s East Godavari district, the newspaper reported.

The investigation is based on two first information reports filed by the Central Bureau of Investigation in September 2022. The FIRs pertained to two separate loans given by Yes Bank to Reliance Home Finance Limited and Reliance Commercial Finance Limited.

It has been alleged that loans of about Rs 3,000 crore received by the companies from the bank between 2017 and 2019 were illegally diverted to shell companies and wholly owned subsidiaries of the conglomerate with an intention to siphon the money, The Times of India quoted unidentified persons as saying.

In its attachment order issued on Friday, the agency alleged that it found several intentional control failures such as blank documents that were “overwritten and undated”, The Indian Express reported.

“Several borrowers had weak financials or negligible operations,” the newspaper quoted a spokesperson of the agency as saying. “Security creation was inadequate or unregistered, and security schedules were left blank, the end use did not match the sanction conditions.”

The Securities and Exchange Board of India, the National Housing Bank, the National Financial Reporting Authority and the Bank of Baroda had also shared information with the central agency about the companies earlier in the year.

In July, the Enforcement Directorate conducted raids at more than 35 premises and searched 50 companies and 25 persons as part of its investigation.

The raids came days after the Union government told Parliament that the State Bank of India had classified Reliance Communications and Ambani, its promoter-director, as “fraud”.

Besides, Ambani was summoned and questioned at the central agency’s headquarters in Delhi on August 5, The Times of India reported.

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